00:02
Wage differentials are the differences in wages across individuals, differences in jobs, industries, regions, and they can be explained by economic theory, but they don't necessarily always indicate exploitation or unjust practices.
00:24
So here are some things to consider.
00:27
One is market forces and productivity.
00:35
The economic theory often explains wage differentials through supply and demand.
00:47
And if workers in a certain industry have specialized skills that are in high demand but short supply, their wages will tend to be higher.
00:56
Similarly, workers in less skill roles are or in industries with a lot of labor available, they may see lower wages.
01:07
This is a neutral explanation from a, an economic standpoint and is tied to productivity.
01:14
It's tied to experience and it's tied to education levels...