Wage and unemployment: Evidence from online job vacancy data

Oleksandr Faryna, Tho Pham, Oleksandr Talavera () and Andriy Tsapin

Journal of Comparative Economics, 2022, vol. 50, issue 1, 52-70

Abstract: This paper examines the relationship between labour market conditions and wage dynamics by exploiting a unique dataset of more than one million online job vacancies. We find a weak trade-off between aggregate wage inflation and unemployment. This link becomes more evident when the wage inflation is disaggregated at the sectoral and occupational level. The examination, using vacancy-level data, shows a negative correlation between offered wage and unemployment. The degree of wage elasticity, however, is different across regions and skill segments. Our findings suggest the importance of micro-level data's unique dimensions in examining the wage – unemployment relationship.

Keywords: Phillips curve; wage curve; heterogeneity; micro data; online vacancies (search for similar items in EconPapers)
JEL-codes: C55 E24 E31 E32 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jcecon:v:50:y:2022:i:1:p:52-70

DOI: 10.1016/j.jce.2021.05.003

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