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Labor Market Decline
The decline of the labor market is easy to misinterpret (interpret). There are many reasons for that. During the 1970s, large numbers of women and young adults 41 (bear) during the baby boom entered into the work force. That 42 ( result) in too many workers for the jobs available and depressed wages. The decline also has something to do with the explosive 43 ( grow) in world trade since 1960. As 44 .( manufacture) technologies have become more mobile, production jobs have 45 (move) from the U. S. to countries where wages are low. In 46 (add), technology itself has helped to cause the shifts in the job market. For example, 47 (few) American workers are needed to make steel today than in the past, because new 48 ( machine) have made many of their tasks 49 (necessary). Finally, the high rate of 50 (employment) caused by these factors has tended to drive wages down further.
