Prices have risen in some sectors but fears of job losses have been unfounded, a report says.
Via Graham Watson
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Graham Watson's curator insight,
August 6, 2018 9:17 AM
Substitution or complementarity - that's what this article's about in relation to automation. Again.
Not really news but...it fleshes out some of the reasons why automation is feared, and the need for increased labour mobility. |
An interesting reflection on the impact of the minimum wage on employment levels in the UK. The latest research by the Low Pay Commission has suggested that rises in the National Living Wage have eroded profits, rather than hitting jobs.
This is because much of the cost of the increase has been passed onto consumers, with the remainder being borne by firms rather than seeing workers laid off. However, another study, by the IFS suggests that the level at which a higher NLW will encourage increased automation is not too far away.