How Rich Economies Must Adapt to Tomorrow’s Job Market
Across the developed world, well-paid jobs in the middle of the labor market are in decline. The issue isn’t simple, nor are the remedies, but governments must start paying attention.
The name for what’s going on is job polarization. Wages at the top are still rising, and at the very top they’re rising fast. Wages in a lot of menial and low-skill occupations are at least holding their own. But as research by David Autor, an MIT economics professor, and others has demonstrated, earnings in the middle of the labor market have been falling for years.
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