Richmond Fed's Lacker: Technology & labor markets

In a speech on 'Technology and labor markets' given on 18 January, Jeffrey Lacker of the Federal Reserve Bank of Richmond said technology improvements, not trade, have been the driving force behind US wage and job trends in recent years.

"Even researchers who see a significant impact of trade estimate that import growth can account for only about a quarter of the growth of the college premium (in wages)," Lacker said in the speech to FNB Southeast bank in Greensboro.

He said the jobless economic

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