The Unexpected Compression: Competition at Work in the Low Wage Labor Market.

Autor/inn/en	Autor, David; Dube, Arindrajit; McGrew, Annie
Institution	National Bureau of Economic Research
Titel	The Unexpected Compression: Competition at Work in the Low Wage Labor Market. Gefälligkeitsübersetzung: Die unerwartete Verdichtung: Arbeitswettbewerb auf dem Niedriglohnarbeitsmarkt.
Quelle	Cambridge, MA: MIT Department of Economics (2023), 78 S. PDF als Volltext kostenfreie Datei (1); PDF als Volltext kostenfreie Datei (2); PDF als Volltext kostenfreie Datei (3); PDF als Volltext kostenfreie Datei (4) Link als defekt meldenVerfügbarkeit
Reihe	NBER working paper / National Bureau of Economic Research. 31010
Beigaben	Illustrationen
Sprache	englisch
Dokumenttyp	online; Monographie
Schlagwörter	Lohn; Wettbewerb; USA; Auswirkung; Preisentwicklung; Lohnstruktur; Lohnentwicklung; Arbeitsplatzwechsel; Niedriglohn; Bildungsertrag; Bildungsertrag; Pandemie; Pandemie; Beschäftigungseffekt; Einkommenseffekt; Lohn; Lohnentwicklung; Lohnstruktur; Niedriglohn; Preisentwicklung; Wettbewerb; Arbeitsplatzwechsel; Niedrig Qualifizierter; Arbeitspapier; Auswirkung; USA
Abstract	"Labor market tightness following the height of the Covid-19 pandemic led to an unexpected compression in the US wage distribution that reflects, in part, an increase in labor market competition. Rapid relative wage growth at the bottom of the distribution reduced the college wage premium and counteracted approximately one-quarter of the four-decade increase in aggregate 90-10 log wage inequality. Wage compression was accompanied by rapid nominal wage growth and rising job-to-job separations - especially among young non-college (high school or less) workers. At the state-level, post-pandemic labor market tightness became strongly predictive of price increases (price-Phillips curve), real wage growth among low-wage workers (wage-Phillips curve), and aggregate wage compression. Simultaneously, the wage-separation elasticity - a key measure of labor market competition - rose among young non-college workers, with wage gains concentrated among workers who changed employers and industries. Seen through the lens of a canonical job ladder model, the pandemic increased the elasticity of labor supply to firms in the low-wage labor market, reducing employer market power and spurring rapid relative wage growth among young non-college workers who disproportionately moved from lower-paying to higher-paying and potentially more-productive jobs." The study refers to the period 2015-2022. (Author's abstract, IAB-Doku)..
Erfasst von	Institut für Arbeitsmarkt- und Berufsforschung, Nürnberg
Update	2023/1