Wage Inequality

Wage inequality refers to the unequal distribution of income among workers in a labor market. It occurs when people receive different pay for similar work or when certain jobs pay significantly more than others, often based on education, skills, or industry. Factors like discrimination, technological changes, and globalization can widen these gaps. For example, highly skilled workers in tech might earn much more than those in retail. This inequality can affect social mobility and economic stability, as it leads to disparities in living standards and opportunities for individuals and families.