Oligopsony

Concentration in US labor markets: Evidence from online vacancy data

Using data on the near-universe of US online job vacancies collected by Burning Glass Technologies in 2016, we calculate labor market concentration using the Herfindahl-Hirschman index (HHI) for each commuting zone by 6-digit SOC occupation. The …

Minimum Wage Employment Effects and Labor Market Concentration

Why is the employment effect of the minimum wage frequently found to be close to zero? Theory tells us that when wages are below marginal productivity, as with monopsony, employers are able to increase wages without laying off workers, but systematic …