Question

What effect might a high unemployment rate have on the wages of americans who still had jobs?

Answer 1

The effect that might have when there is a high unemployment rate have on the wages of Americans who still had jobs is that it increases more. When you have a care plan, it is made sure that your salary is qualified for the plan and because it has a maintaining balance. That is why it is hard to achieve something like this.

Answer 2

Answer:

The wages of people who still have jobs would go down because a high unemployment rate means that there are more workers than needed, and accordingly, the price paid to the workers (the wages) reduces until reaching a new equilibrium that matches the labor needs of the firms.