The Hollowing Out of Middle-Skilled Labor Share of Income – IMF Blog

Imagine how a typical factory today operates in many advanced economies. There are no longer many workers lined up along assembly belts. Instead, there are only a few of them—mostly likely engineers—looking at screens of highly sophisticated equipment that does the assembly once done by humans. With technological advancement constantly driving down the cost of capital, firms are increasingly replacing workers with machines.

Source: The Hollowing Out of Middle-Skilled Labor Share of Income – IMF Blog