income levels

• income levels (1)

  • In developing countries, factory work provides a more reliable source of income in comparison to small-scale farming which is vulnerable to weather and disease 
  • This reliability of wages also means that it is likely that spending will increase, therefore spreading the economic effects beyond employment 
  • Eg. Since 1990, 1 billion people have been lifted out of extreme poverty, primarily because of global shift. In China, 600,000 people were lifted out of poverty between 1992 to 2015 
• income levels (2)

  • However, in DCs, unemployment for those previously involved in low-end manufacturing will prevail, unless they get upskilled to take on other types of jobs 
  • For the highly-educated and skilled, income levels and job opportunities will rise in the sectors of high-end manufacturing and high-end services (eg. business services like accounting, legal work and business consultancy)