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Relatively higher paying jobs have relatively more competition. The lowest paying jobs (minimum wage) will always have the least competition.
by eastWestMath 9y ago
Relatively higher paying jobs have relatively more competition. The lowest paying jobs (minimum wage) will always have the least competition.
- erikbye 9y agoThis does not seem to be a universal truth. Time and again I see news stories of grocery store type jobs (or McDonalds) getting hundreds of applicants.
- Consultant32452 9y agoThat's because the minimum wage is higher than the market value for many of those people's productivity. Without a minimum wage anyone willing to do work would more quickly be able to find paying work. And anyone who is productive will quickly move up the pay scale.
- eeZah7Ux 9y agoThe opposite is true.
- mcguire 9y agoThat's why they pay so much; it's econ 101.