According to U.S. Census data, average real earnings for men aged 18-65 without a high school degree decreased by 3.6% from 1989 to 1999. But during the same period, there was an 11.7% increase in average real earnings for men aged 18-65 who had at least a bachelor’s degree.
When will this trend stop? The answer is never. It will in fact accelerate as more advanced labor saving devices (such as robots) are introduced into the economy, rendering unskilled labor less and less valuable.
Of course this trend is also abetted by exporting of menial jobs to other countries, and immigration of unskilled workers increasing the supply of laborers and thus reducing salaries.
How low do earnings of unskilled laborers have to go before Congress decides that we don’t need any more immigration?