Home > Terms > English, UK (UE) > Low wage trap
Low wage trap
A term that describes the situation in which the average worker in a labour market increases his/her work effort which leads only to little or even no increase in take home income. Many developing countries experience such a low wage trap as the average wage increase gets stalled after reaching a certain point and never quite makes it to the level of the developed nations.
There are many factors affecting the low wage trap but one of the most important reasons is that many developing countries overly rely on outsourcing instead of building up their own global brands with technology innovation.
- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Economy
- Category: International economics
- Company:
- Product:
- Acronym-Abbreviation:
Other Languages:
Member comments
Terms in the News
Featured Terms
Secret Service prostitution scandal
A scandal involving 12 U.S. secret service men and Colombian prostitutes before a recent presidential trip to Colombia. After the scandal broke, the ...
Contributor
Featured blossaries
anton.chausovskyy
0
Terms
25
Blossaries
4
Followers
4th Grade Spelling Words
Browers Terms By Category
- Chocolate(453)
- Hard candy(22)
- Gum(14)
- Gummies(9)
- Lollies(8)
- Caramels(6)
Candy & confectionary(525) Terms
- Fuel cell(402)
- Capacitors(290)
- Motors(278)
- Generators(192)
- Circuit breakers(147)
- Power supplies(77)
Electrical equipment(1403) Terms
- SSL certificates(48)
- Wireless telecommunications(3)
Wireless technologies(51) Terms
- American culture(1308)
- Popular culture(211)
- General culture(150)
- People(80)