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Yes, Robots Are Hurting Your Pay, Fed Study Finds

  • Automation ‘contributed substantially’ to drop in labor share
  • Rising use of technology undermines workers’ pay demands
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200,000 Banking Jobs Could Be Lost to Machines

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Automation has “contributed substantially” to reducing the portion of national income that goes to U.S. workers over the past two decades, according to a new study by economists at the Federal Reserve Bank of San Francisco.