Monday, July 22, 2013

What’s caught my eye…: “Job Gentrification”

As wages go up, workers with greater skill, human capital, and experience start to compete for these jobs, and, being better workers, they will beat out the kind of workers who are currently getting Walmart jobs. Call this phenomenon job gentrification. If Walmart increases its wage significantly, this will be very good for the people who end up working at Walmart. But that doesn’t mean it will be good for the kind of people who currently are getting the low-paying jobs at Walmart.

Read the rest here.

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