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A comment on The U.S. Labor Market Isn’t All That Healthy. Parent comment
Decades of policy created the environment we are in now, where the bottom 3 quintiles lost out entirely on any gains to globalization.
Now, perhaps more than any time in the last 50 years, we have conditions which could lead to gains for those lower quintiles.
I don’t expect to see decades of losses reversed overnight, but for the last 10 years things have gotten better not worse, which is something new.
Hopefully we are at a point which will start seeing accelerating gains accumulating toward the lower quintiles.
IMO, for that to happen, we need to reduce the supply of unskilled labor to drive increased wages at that point on the curve.
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Decades of policy created the environment we are in now, where the bottom 3 quintiles lost out entirely on any gains to globalization.
Now, perhaps more than any time in the last 50 years, we have conditions which could lead to gains for those lower quintiles.
I don’t expect to see decades of losses reversed overnight, but for the last 10 years things have gotten better not worse, which is something new.
Hopefully we are at a point which will start seeing accelerating gains accumulating toward the lower quintiles.
IMO, for that to happen, we need to reduce the supply of unskilled labor to drive increased wages at that point on the curve.