Fourth Industrial Revolution

This is what automation could mean for low-wage jobs in the US

The rise of the robot? Image: REUTERS/Eric Thayer (UNITED STATES - Tags: BUSINESS)

Daniel Aaronson
Vice President, Federal Reserve Bank of Chicago
Brian Phelan
Assistant Professor, DePaul University
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Fourth Industrial Revolution

Notes: Using Occupation Employment Statistics data over the period 1999-2009 from the US Bureau of Labor Statistics, the figures plot the change in the log of occupational employment from four years prior against the one-year change in the minimum wage from three years prior. This structure allows minimum wage changes to have lagged effects on employment. Each observation is a state-year weighted by employment levels in the base year. Minimum wage hikes less than 0.03 log points are excluded from the figures. Image: LSE Business Review
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