With the increase in low-wage immigrant labor, employment appears strong, but because of low wages, people cannot buy expensive goods, which reduces demand. They buy what they want by paying later with their credit cards, and end up increasing their default rate because they can't pay later and are delinquent.
With the increase in low-wage immigrant labor, employment appears strong, but because of low wages, people cannot buy expensive goods, which reduces demand. They buy what they want by paying later with their credit cards, and end up increasing their default rate because they can't pay later and are delinquent.