Rise of High-Skilled Professionals, Decline of Mid-Skilled Workers in Europe
The labor share in Europe has been decreasing, especially in manufacturing and for low- to mid-skilled workers. Changes in job types and reduced job protections have played a big role. Technology and globalization have helped some skilled workers but hurt others. Highly skilled professionals have seen gains in labor share due to increased productivity, while low- and mid-skilled workers have lost out because of globalization and weaker job security.