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Essay / Research Paper Abstract
This 12 page paper is based in a research article assessing a potential link between the migration of skilled workers to Australia and the overall wage levels. The article is reviewed with an explanation of the economic concepts and equations that are used in the research before looking at the results which indicated that there was no adverse impact. The bibliography cites 1 source.
Page Count:
12 pages (~225 words per page)
File: TS65_TEwageaust.doc
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Unformatted sample text from the term paper:
level of migrants. The policies which control immigration are based on a point scheme, which results in a large proportion of migrants being skilled workers. It is estimated that
between 2000 and 2006 the country received roughly 140,000 migrants, with skilled workers accounting for 65% of the visas issues. The high level of skilled migrants has the potential
to be a cause of concern when considering the potential impact on wages. Migration of skilled workers is effectively increasing the supply of skilled labour. In a basic economic model
of supply and demand were there is an increase in the supply of a particular commodity, without a corresponding increase in demand, the price for the commodity will decrease. In
the case of skilled workers, the commodity is their labour and the price of the commodity is the wages paid. The impact of wage changes with in the entire population
is impacted by the skilled worker wages. Where wage levels change in the skilled worker sector, they will have an impact on unskilled sector due to the wage differential which
will be present between skilled and unskilled workers. In other words, if the wages of skilled workers decrease, in real or nominal terms, the wages of unskilled workers are likely
to follow suit, maintaining the differential. This is further supported by the way in which unskilled worker wages tend to be unresponsive to market changes. Unskilled workers wages are often
low, and are constrained by the minimum wage agreements and union negotiated wage rates. The rates paid to the skilled workers do not have the same constraints. Given this situation
where the rates paid to skilled workers decrease, the subsequent negotiations by unions on behalf of unskilled workers, and minimum wage agreements are likely to reflect the changes in the
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