Over the last ten years, real inflation-adjusted wages have barely increased by 0.1% annually, significantly decreasing in the past year. The claim makes the case that technological advancement and globalisation have eliminated routine intermediate jobs, lowering wages in these fields. To improve the labour market’s flexibility to adopt new technology, measures to boost wage growth should include retraining. As the workforce upskills, wages will rise when workers transition to higher-paying positions where labour is scarce. Read more
Published on: August 24, 2022
Source: The Conversation
