Not the professions I would have chosen as examples. 😆
But in any case, undercut would be more accurate than outcompeted.
Supply and demand. When supply of labour is plentiful, salaries tend to reduce. That's why big business supports mass immigration, it reduces their labour costs.
Great for large corporations. Not so good for the average working man who might find himself replaced by someone prepared to work for a pittance. Still, the average working man is hardly of concern for the "modern" Labour party, it's not 1970.
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