Title: In what way has globalization effected unemployment?
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Content: From these statistics it shows like they did go to China instead of the U.S. labor force. Since trade both creates and destroys jobs, the pertinent question is whether trade has an effect on employment. Over the past three or four decade’s foreign trade, cross border movement of labor and capital has been enormous. All these changes due to globalization have had an impact on wage disparities. The growing inequality in income and employment across the U.S. economy where highly educated workers enjoy more opportunities and workers with less education facing declining employment prospects and stagnant incomes. In addition international trade between skill-scarce less-developed countries and skill-abundant rich economies has increased since the 1970’s, and this may have put downward pressure on the wages of low-skill workers in the U.S. (Acemogly, 2000). What used to be done by low skilled workers in the U.S., it is probably getting done in sweatshops across Asia. Nonetheless, these sweat shops are all these Asian workers from the other side of the world have to survive. The famous Cambodian sweatshops to us might be unimaginable, but to the people living there is the only way of making their daily bread. Income gaps have widened in a number of developing countries as well as in the advanced economies, and evidence suggests that labor demand in developing countries has also shifted toward workers with high skill levels relative to the average.