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.

FORBES: How to Swap the Obama Budget for an Optimistic Economic Growth Agenda

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