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
Bull shark
Bull sharks are a species of shark which lives in warm shallow (not deeper than 30 meters) waters near the shore or in rivers, as they are capable of ...
Contributor
Featured blossaries
stanley soerianto
0
Terms
107
Blossaries
6
Followers
Top Ten Coolest Concept Cars
Browers Terms By Category
- Cardboard boxes(1)
- Wrapping paper(1)
Paper packaging(2) Terms
- Electricity(962)
- Gas(53)
- Sewage(2)
Utilities(1017) Terms
- Radiology equipment(1356)
- OBGYN equipment(397)
- Cardiac supplies(297)
- Clinical trials(199)
- Ultrasonic & optical equipment(61)
- Physical therapy equipment(42)
Medical devices(2427) Terms
- Alcohol & Hydroxybenzene & Ether(29)
- Pigments(13)
- Organic acids(4)
- Intermediates(1)
Organic chemicals(47) Terms
- Architecture(556)
- Interior design(194)
- Graphic design(194)
- Landscape design(94)
- Industrial design(20)
- Application design(17)