Final answer:
The demand for high-skilled labor is rising due to technological advancements, globalization, and increased international trade. High-skilled workers are more productive and have greater opportunities to sell their services globally.
Step-by-step explanation:
The demand for high-skilled labor is rising due to several factors. Firstly, the explosion in new information and communications technologies has greatly benefited high-skilled workers such as business managers, consultants, and design professionals, making them more productive and valuable in the workplace. Secondly, the advancements in technology have facilitated globalization, leading to increased international trade and more opportunities for high-skilled workers to sell their services globally. Lastly, the rising impact of foreign trade in the U.S. economy has created a greater need for high-skilled workers, while lower-skilled workers have to compete with a larger supply of similarly skilled workers worldwide.