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This new work paints a positive picture: while technology has potentially contributed to the loss of approximately 800,000 lower-skilled jobs, there is equally strong evidence to suggest that it has helped to create nearly 3.5 million new higher-skilled ones in their place.
Each one of these new jobs pays, on average, £10,000 more per annum than the one lost. Crucially, every nation and region of the UK has benefitted, and we estimate that this technology-driven change has added £140 billion to the UK’s economy in new wages.