What is a tight labor market and why is it beneficial to both skilled and unskilled workers?

Your task: create a new thread where you answer the questions below:

• What is a tight labor market and why is it beneficial to both skilled and unskilled workers?
• Why is it difficult to esitmate the effect of minimun wage on actual worker’s wages?
• What is the percentage of workers in the American economy who are subject to the minimum wage?
• Why is the current Federal minimum wage in the U.S. irrelevant? What are the pros and cons of the recent efforts to raise the Federal minimum wage?

Tips:
Answer the questions using information in the video and article provided above. If you want more information, use credible sources (email me if you’re unsure) and add links to your new sources on the bottom of your post. Note that it is not required to look up new sources as the articles I provided should have all the answers.

Try to rephrase what the sources say so that you’re using your own words. If your post is long, break it up into paragraphs!