The prospect of robots taking away jobs and reducing wages has been a lingering fear among workers in the manufacturing industry . That fear received corroboration from a new study released by the National Bureau of Economic Research (NBER) yesterday. According to the study, the introduction of a single industrial robot resulted in a loss of approximately 6.2 jobs per thousand workers and declined wages by roughly half a percentage point for the same set of people.
In total, robots were responsible for 670,000 job losses between 1990 and 2007, the period analyzed by the study’s authors. The study compared […]
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