How are wages determined in the U.S.? What are the most significant trends in wages over the past five years? Key poi
Posted: Thu May 19, 2022 10:26 am
How are wages determined in the U.S.? What are the most
significant trends in wages over the past five years?
Key points:
Determinants of the demand for labor at the firm and market
levels
What causes the demand curve to shift
Consequences for the wage rate
The effect of minimum wage legislation on market equilibrium
Effect on demand and wage rate of outsourcing jobs
Role of unions in wage determination – direct and indirect
significant trends in wages over the past five years?
Key points:
Determinants of the demand for labor at the firm and market
levels
What causes the demand curve to shift
Consequences for the wage rate
The effect of minimum wage legislation on market equilibrium
Effect on demand and wage rate of outsourcing jobs
Role of unions in wage determination – direct and indirect