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.