Chapter Three: How the Labor Market Adjusts to Technological Shocks
Published: April 01, 2021
Whenever a new technology is introduced, the economy goes through structural changes. Workers then adjust to new conditions and grow within the new sectors. However, adjustments take time as workers accumulate more skills or change locations.
This lecture was recorded in the fall of 2019 before the pandemic.
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- Why is the labor market important to understand?
- How do people adjust to technological changes that affect their jobs?