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Chicago Fed Letter, No. 245, December 2007
Strategies for Improving Economic Mobility of Workers—A Conference Preview
By almost all measures, American workers overall have gained economic ground over time. However, it has also been well documented that inequality in economic outcomes has increased: Wages for those in the bottom (10th percentile) of the income distribution have not growth as quickly as those in the top (90th percentile). In fact, the wages for those at the bottom may even be stagnating. These trends imply that the economic mobility of some segments of the labor force is relatively limited. How can the economic opportunities for low-wage workers be improved? How effective are existing policies at helping low-wage workers gain more skills or improve them? The author provides a brief review of key issues related to low-wage earners and policy prescriptions.
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