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
Xibalba
The name of the Mayan underworld, the name meaning place of fear. This place is well documented in Mayan legends. It is presided over by ten gods, ...
Contributor
Featured blossaries
Browers Terms By Category
- Marketing communications(549)
- Online advertising(216)
- Billboard advertising(152)
- Television advertising(72)
- Radio advertising(57)
- New media advertising(40)
Advertising(1107) Terms
- Electricity(962)
- Gas(53)
- Sewage(2)
Utilities(1017) Terms
- Christmas(52)
- Easter(33)
- Spring festival(22)
- Thanksgiving(15)
- Spanish festivals(11)
- Halloween(3)
Festivals(140) Terms
- Aeronautics(5992)
- Air traffic control(1257)
- Airport(1242)
- Aircraft(949)
- Aircraft maintenance(888)
- Powerplant(616)
Aviation(12294) Terms
- Bridge(5007)
- Plumbing(1082)
- Carpentry(559)
- Architecture(556)
- Flooring(503)
- Home remodeling(421)