In brief... Monopsony in labour markets: what it is, why it matters

Alan Manning

CentrePiece - The magazine for economic performance from Centre for Economic Performance, LSE

Abstract: Many firms are able to exploit the fact that it is hard for workers to move from one employer to another, keeping wages lower than they would be in a competitive market. As Alan Manning explains, labour markets are becoming less dynamic and one consequence is to increase this 'monopsony power' of employers.

Keywords: monopsony; wages; labour markets; employment (search for similar items in EconPapers)
Date: 2020-11-02
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Persistent link: https://EconPapers.repec.org/RePEc:cep:cepcnp:592

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