This can increase competition and reduce the companies’ mark-ups when costs increase.18 Thirdly, the consumer price index (CPIF) is directly affected by lower costs for information and communication technology. 17  See Monetary Policy Report, February 2015. 18 Apel et al (2014). 7 [12]  Productivity and the labour market Let's begin with companies’ production capacity and the consequences for the labour market. In the manufacturing industry digitalisation appears to have to increased productivity, but this is not the case in the service industries. The development in employment appears to have been poorer in professions where digitalisation has been stronger. The labour market appears to have become more polarized as a larger number are either employed in high salary or low salary professions.19 Companies responding to our own Business Survey often confirm that digitalisation leads to a competence shift in the labour force. They see a substantial need to recruit specialists with, for instance, digital competence and they have less need to recruit general staff.20 In consumer-related sectors companies believe to a greater extent that digitalisation will lead to fewer employees within a few years, while the responses from manufacturing companies are more neutral. The explanation is often that the manufacturing industry has already made major changeovers and that digital technology is already a complement to large groups of employees. In the retail trade there are larger groups of cashiers, stocks workers and shop assistants who can be replaced by automated solutions. Consumer behaviour Digitalisation also affects us as consumers.
One might say that it is a question of giving the right information at the right time and about expressing oneself clearly. This is an important aspect that ties in with a survey of central banks recently made by JP Morgan. There the Riksbank was ranked as the most open central bank. But the main message of the study was that a central bank, once it had passed a particular degree of openness, perhaps did not become much more predictable by providing even more information. And I believe there is some truth in this. At least if the central bank is already very open, the quality of the communication may be more important than the quantity. And we are consciously working all the time to become even better with regard to clarity and efficiency in our communication. As recently as a couple of weeks ago, we Executive Board members decided to take a few further steps in this direction. To begin with, the public minutes of the monetary policy meetings will now state which of the Board members has said what in the general discussion. This means that we have both a correct decisionmaking procedure and everyone will be able to follow the reasoning of the individual Executive Board members with regard to each interest rate decision. Stating the names in the minutes will make us even more open and clear. It will provide better opportunities for evaluation and accountability.