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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: GraceZ who wrote (14323)10/29/2004 5:38:37 PM
From: benwood  Read Replies (1) of 116555
 
You are absolutely right. And the higher pay that frequently accompanies higher productivity is a reaction by employers to acquire and retain the more skilled staff necessary to perform the more complex job. Similarly, the education, training, and or experience, required to perform a more sophisticated job limits the potential pool of applicants, so the competition for a job might actually decline over time due to the shrinking pool of qualified workers.
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