Relative prices influence the capital-labor ratio of inventions thus induced.  Much of the public policy attention recently has been on the automation-inducing effects of minimum wage increases sought as a way of raising the lowest incomes.  Meanwhile, a paucity of people capable of filling jobs that call for knowledge and technical skills is bidding up wages at that end of the scale.
Right now, there are 5.4 million jobs open in the United States. That's near a record high. On one hand it's a good sign that employers are hiring. But the high number also indicates that employers can't find people with the right skills, experts point out.

"When it comes to new, unfilled jobs, there's not enough skilled workers there," Ahu Yildirmaz, chief economist at the payroll services firm ADP told CNNMoney at Milken.
Many of these jobs are harder to outsource to elsewhere in the third world, or to automate.  And preparing the next generation of apprentices might be an opportunity for high schools and community colleges.

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