The Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key markets and training and educational support to international institutions.
The Outreach and Education function engages, empowers and educates the Second District communities that the Bank serves, especially civic leaders, students, educators, small business owners, policymakers and the general public. It furthers the Bank's commitment to the region by listening to the communities we serve and leveraging our unique attributes to positively impact school and university programs, as well as analysis and research.
The Internationalization of the U.S. Labor Market and the Wage Structure
January 1995Volume 1, Number 1
JEL classification: J31
Author: George J. Borjas
The increasing internationalization of the U.S. labor market has had important effects on the wage structure. Immigration has probably increased wage inequality because recent immigrant waves tend to be less skilled than earlier waves. Growing trade deficits in durable goods have also increased wage inequality by reducing the relatively high wages of less-skilled workers in these industries and by displacing workers from them.