4 ms·
Availability of cheap labor reduces wages within any industry - this is almost an axiom. But just read an economics book or a study like this one: http://www.m
by factsaresacred 8y ago
Availability of cheap labor reduces wages within any industry - this is almost an axiom. But just read an economics book or a study like this one:
http://www.migrationobservatory.ox.ac.uk/resources/briefings/the-labour-market-effects-of-immigration/ http://www.migrationobservatory.ox.ac.uk/resources/briefings...
> in the unskilled and semi-skilled service sector, a 1% rise in the share of migrants reduced average wages in that occupation by nearly 0.5%
It may seems small but those numbers are variables and for people on the lowest rung of the ladder, every percent counts.