For instance, in the euro area, globalisation seems to have led to a relative increase in hours worked in those sectors that employ highly skilled workers, while relative wages have remained fairly stable. In the United States, it appears that both hours worked and wages have increased in those sectors that employ highly skilled workers (ECB (2008)).
BIS Review 35/2008  1  The secular decline observed in transportation and communication costs has made it easier for firms to relocate the production of goods and services requiring larger amounts of lowskilled labour to those newly emerging economies, while industrialised countries tend to specialise in the production of goods and services requiring larger amounts of skilled labour.