June 25, 2020 / 3:09 PM / 16 days ago

Fed's Kaplan says lower-educated workforce could struggle to adapt to post-coronavirus economy

FILE PHOTO: Dallas Federal Reserve Bank President Robert Kaplan speaks during an interview in his office at the bank's headquarters in Dallas, Texas, U.S. January 9, 2020. REUTERS/Ann Saphir/File Photo

(Reuters) - Less educated workers may be disproportionately affected by workplace trends being accelerated by the pandemic, which is causing more companies to use technology to replace some workers, Dallas Federal Reserve President Robert Kaplan said on Thursday.

“I’m not worried about companies’ ability to adapt to this. I am worried about the workforce’s ability to adapt to this, particularly if you have a high school education or less,” Kaplan said during a virtual forum. “If you’re highly educated, these technology trends may mean you’re more productive, you’ll make more money.”

Reporting by Jonnelle Marte; editing by Jonathan Oatis

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