Globalization and competition have a big effect on wages and jobs in our own country. Let’s break it down.

First, when countries start trading more with each other, local businesses have to compete with foreign companies. This can lead to lower wages. Why? Because businesses might try to save money so they can stay in the game. Sometimes, they even move jobs to countries where labor is cheaper. This can mean fewer jobs for people here.

Also, globalization makes it easier for workers to move around. Lots of people travel to find better pay and jobs in other places. When workers move, it changes how many people are available for jobs. If there are more workers than jobs, employers might lower wages since they know many people are looking for work.

Let’s look at skilled versus unskilled workers. Skilled workers—those with special training or education—might see their pay go up. This is because companies need more experts to work with international partners. On the flip side, unskilled workers may not see their pay increase. In fact, they might earn less because companies can outsource jobs or use machines instead of hiring more people.

The job market plays a big part in how wages change. If there are too many workers for too few jobs, unemployment can go up. This makes it harder for workers to negotiate better pay. But when there are more jobs than workers, companies have to offer higher wages to attract employees.

In summary, globalization and competition really change the way wages and jobs work in our country. Some workers may earn more money, while others might lose their jobs or see their wages drop. It's a tricky situation that shows how complex today’s economy can be.