Economics types - a question! If you don't mind, please...
Say a job market in a particular sector and in a particular region of the country has a very high demand for work but also an increasing supply of available jobs, then how would that translate in terms of wages? My thought is that wages would see little change.
You are correct in estimating the direction for each condition; since they differ from each other the relative magnitude of each determines the net outcome. It could be that the supply of jobs is increasing in response to lower wage demands. It could also represent robust growth on the part of the industry, but there are not many industries where that is true right now.
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