Globalization Impact on Labor Inequality

Globalization connects economies and cultures worldwide, influencing labor markets significantly. While it can create jobs and boost economic growth, it often leads to increased labor inequality. Skilled workers in developed countries may benefit from higher wages and opportunities, while low-skilled workers face job competition from countries with cheaper labor. This can widen the gap between rich and poor and create a divide where some people thrive while others struggle. Additionally, labor rights may weaken as companies seek to cut costs, further exacerbating inequality in the workforce.