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Labor Economics
In this excerpt from The Wage Standard, Arindrajit Dube explains how "monopsony" gives some employers the power to set wages below competitive levels.
Handled right, AI has potential to bring back middle-skill jobs lost to the rise of computers, economists argue. Or, like the mechanized mills of the past, it could toss whole sectors out of work.
Early warning signs show AI is eating into the entry-level job market — a potential harbinger of things to come.
A prolonged strike could cost the economy between $500 million to $4.5 billion per day.
In an age of high quit rates, struggling low-wage employees, and tone-deaf leadership, the call for “good jobs” makes great sense.
The minimum wage is a popular policy, but it's not the only way governments have tried to help workers secure a decent living.
The results of a recent study counter some common claims found in anti-immigration narratives.