The wage curve is the negative relationship between the levels of unemployment and wages that arises when these variables are expressed in local terms. According to David Blanchflower and Andrew Oswald (1994, p. 5), the wage curve summarizes the fact that "A worker who is employed in an area of high unemployment earns less than an identical individual who works in a region with low joblessness."
Read more about Wage Curve: An Explanation For The Wage Curve, Implications of Wage Curve
Famous quotes containing the words wage and/or curve:
“I wage not any feud with Death
For changes wrought on form and face;
No lower life that earth’s embrace
May breed with him can fright my faith.”
—Alfred Tennyson (1809–1892)
“Nothing ever prepares a couple for having a baby, especially the first one. And even baby number two or three, the surprises and challenges, the cosmic curve balls, keep on coming. We can’t believe how much children change everything—the time we rise and the time we go to bed; the way we fight and the way we get along. Even when, and if, we make love.”
—Susan Lapinski (20th century)