If we get to the point were the Fed is inducing or more clearly facilitating a structural transition then we will know because the shortage of skilled labor will outweigh the excess of unskilled labor and overall wages will rise.

FORBES: Stiglitz on Inequality and Monetary Policy

Permit freer trade in skilled labor (and pathways for unskilled for that matter): Bright foreign Ph.

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Unskilled labor is complementary to high wage skilled labor and the demand for it would rise as the wages to skilled labor rise.

FORBES: Stiglitz on Inequality and Monetary Policy

New technology will be introduced along with labor-saving capital investment, and skilled workers will tend to replace unskilled workers.

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The highly-skilled inevitably prosper while those of lesser abilities race to the bottom amidst a vast global pool of unskilled and underskilled labor.

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