Published 3 months ago

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

Summary by Ground News

Labor market tightness following the height of the Covid-19 pandemic led to an unexpected compression in the US wage distribution. Rapid relative wage growth at the bottom of the distribution reduced the college wage premium and counteracted nearly 40% 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 workers.

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nber.org

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

Founded in 1920, the NBER is a private, non-profit, non-partisan organization dedicated to conducting economic research and to disseminating research findings among academics, public policy makers, and business professionals.

3 months ago

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