In recent years, many have detected one such change in the form of a ‘polarization’ of the labour market. Middle-range jobs involving routine-intensive tasks, which can be easily automated, have been hardest hit; as a share of total employment, they have fallen by about 7 percentage points in the US and 9 points in Europe.
c) Calibration over a longer time horizon: Besides granting greater flexibility and discretion, in keeping with the requirements of the EMDEs, it is important that the implementation of the reform agenda is stretched out over a longer time horizon. This would allow the regulators to prepare the financial system and particularly the banking system for the stringent measures.