By Selwyn Duke
It’s a simple concept: As the numbers of low-skilled workers increase relative to the number of jobs available to them, their value decreases in the market. This is welcomed by and great for big business, which can then hire employees at lower cost. But it’s not so good for the low-skilled, as finding jobs becomes more difficult and their wages will be lower.
This also means, however, that this phenomenon is not so good for another group: American blacks — as they constitute a disproportionate percentage of low-skilled workers.
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