Here's new evidence minimum wage hikes result in workers being replaced by robots
Here's new evidence minimum wage hikes result in workers being replaced by robots
- August 17, 2017
- Research by David Neumark, economics, via CNBC, Aug. 17, 2017
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Economists Grace Lordan of the London School of Economics and David Neumark of UC Irvine studied 35 years of government census data for their working paper, which was released in August, titled "People Versus Machines: The Impact of Minimum Wages on Automatable Jobs." "[F]irms may hire other workers who perform new tasks that are complementary with the new technology. For example, a firm using more robots may hire individuals to service, troubleshoot, and maintain these new machines," the study from Lordan and Neumark says.
For the full story, please visit https://www.cnbc.com/2017/08/16/evidence-minimum-wage-hikes-result-in-workers-being-replaced-by-robots.html.
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