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Blue Collar Pay on the Rise

Here's why blue collar workers are finally getting a long overdue pay raise.

jeudi 28 sept., Il y a 2 mois
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The video discusses the recent trend where wage gains for low-income or blue-collar workers have begun to outpace those for white-collar workers. Historically, white-collar jobs, particularly in fields like technology, saw higher salary growth. However, factors like increased demand for low-wage workers, labor shortages, and workers quitting for better-paying positions have shifted this trend. While this has helped close the wage gap between blue-collar and white-collar workers, there is still a significant disparity in their earnings. The video also highlights how wage growth for low-income workers has played a crucial role in preventing a recession.

Vocabulary:

• Wage (noun) - Payment or salary for work, usually on an hourly or daily basis.

• Recession (noun) - A period of economic decline characterized by reduced economic activity and job losses.

• Boost (verb) - To increase or improve something.

• Leverage (noun) - The power to influence a situation or gain an advantage.

• Tight (adjective) - Having little space, being closely packed, or being difficult to move within.

• Erode (verb) - To gradually wear away or diminish.

Source: WSJ

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