Wage Inequality In The Building Industry

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The economy today is not what it once was. We are going through hardships that some have failed to recognize. The signs of the slowing economy have been right in front of us for many years now, yet some want to act surprised. The building industry seems to be one of the key elements in calculating where we are in the economy and where we might be headed. Many do not know how the building industry affects our everyday lives. Many questions will be answered as we take a look at the economic profile of the building industry. Supply and demand plays a big role in every industry in the economy. When it comes to the building industry the demand is elastic. So when the housing prices fluctuate so will the demand. When a house is available,…show more content…
No one really knows where wage inequality came from but there are several theories. When it comes to the building industry two major factors that lead to wage inequality are outsourcing and immigrants. The reason why immigrants cause wage inequalities is because they will work for less than the average American citizen. The only reason we outsource is to get the work done at a cheaper cost. Some believe that wage inequality was caused by educated people versus uneducated people. Many positions search for certain skills and if you happen to be in the right place at the right time then you would receive a position with a decent wage. The wage inequality for the building industry is based off of the fairness of wages paid to all involved. Even when the building industry is booming the wages generally stay the same and do not increase. This is because of the illegal immigrants that will quickly fill any openings and work for lower wages. Those who are working and making what the normal wage would be are being pushed out by under bidders. The debate on whether the immigrants help or hurt the economy is still at large. If we keep the immigrants here more Americans are left unemployed, but the cost of housing would decrease. On the other hand if the government tries to deport these illegal immigrants and succeeds the housing costs will once again go up, but it gives American citizens…show more content…
Consumers themselves play a big role in how successful the building industry is. When consumers are buying and building new homes the building industry thrives, but when the buying and building stops the building industry seems to slow greatly costing many their jobs. Consumers can create economic growth when building and promoting building in newly constructed areas. New neighborhoods usually mean the building of new shopping malls and other businesses. Homeowners is existing

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