4  See, for example, David H. Autor, Lawrence F. Katz, and Melissa S. Kearney (2006), “The Polarization of the U.S. Labor Market,” American Economic Review, vol. 96 (May), pp. 189–94; and David H. Autor (2010), “The Polarization of Job Opportunities in the U.S. Labor Market: Implications for Employment and Earnings (PDF),” white paper (Washington: Center for American Progress and The Hamilton Project, April).
BIS central bankers’ speeches  3  technologies, the related automation of routine work, and an increased capability for firms to move their activities offshore have combined to concentrate job creation in the poles of either high-skill, high-wage employment or low-skill, low-wage work. The high-skill occupations increasingly require at least a bachelor’s degree. Demand has shifted away from traditional middle-class occupations.