Behavioral Economic Theory Solves Consumer And Labor Market

Why has wage growth been grown slowly in developed countries, such as US, UK? Although, developed countries have low unemployment rate, many people can find any kinds of jobs to work very easily. But, it is not possible due to there are many employers feel need to create or increase many low skillful job positions. Otherwise, it is due to there are many people need to seel jobs to do. So, the job seekers number is increasing, but the job position supply number is not increasing, even is decreasing in these developed countries. So, there are lot excess labour supply and less job demand in developed countries, such as US, UK. Hence, it explains why their wages can not raise rapidly as well as low unemployment rate in these developed countries, because there are less job positions demand from these developed countries' employers as well as US, UK are low population country. So, their low skillful level job position competition is also low. Then, it causes low unemployment ratio and low wage level as well as slow raising wage growth effect in these developed countries nowadays.It means that it has stagnant wages in these developed countries. In fact, country -specific answes don't explain why low wage growth is a global phenomenon whose training for the future and career developement were simply not their problem. So, wages slow growth and low level paid to low skillful labour issue is a global labour market phenonmenon in developed and developing counties nowadays. It is very popular to many employers, they can provide in-house training to teach their low skillful knowledge level workers to learn their related-job knowledge to prepare their career development. So, the developed countries' low skillful level workers can learn any tasks knowledge to prepare to do their new jobs when their new employers provide on-job-training . So, they do not need afraid that they do not learn how to do any kinds of low skillful jobs . It will bring another effect, developed countries employers won't have comparison to whom has owned or had not owned any kinds of task knowledge to prepare to do their tasks when they are employed in beginning. Because every low skillful employees or workers will have in-house training or on-job training learn chance to help them to raise the kinds of low-skillful tasks knowledge level. SO, any low skillful workers must have the same in-house or on-job training learn treatmen from their new employers. Then, their wages will not be influenced to be either higher or lower when they enter their new firms to work in beginning. Their wages level must be the same level, none of reasons are whether they are proficient or low skillful level workers. This is another main factor to influence their wages slow growth in developed countries nowadays.The another factor may be refugee immigration to the developed countries. Because when there are many refugees can apply to emigrate to these developed countries to live, such as US, UK. Then, they will increase the low-skillful labours number to supply to their domestic labour market. Then, it will increase the labour supply of low skillful level to developed countries' domestic workers supply market because these are many low skillful level of refugees workers, they compete to them to find any low level skillful level jobs to do. So, it brings the effect of excess low skillful worker supplying, when these developed countries employers demand to the low skillful workers number does not increase rapidly. So, in economic view, when the supply exceeds to demand, such as these developed countries, low skillful labour market case, refugee immigration brings excess low skillful workers number increases and employers' low skillful level workers demand number does not increase. So, it explains that why these developed countries low skillful level workers' wages can not grow up rapidly.