“…We start by testing the potential correlation between relative demand for managers and skilled labour in column (1). We measure the latter using the 3-digit industry level ratio of non-production workers to all employees in an industry, obtained from Ghosh (2014Ghosh ( ) (1990Ghosh ( -2000, and the ASI (2001ASI ( -2006. The main result continues to hold, suggesting that it is not driven only by increases in the demand for skill.…”