Skill Demand and Posted Wages. Evidence from Online Job Ads in Austria
Lennart Ziegler ()
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Lennart Ziegler: https://econ.univie.ac.at
Vienna Economics Papers from University of Vienna, Department of Economics
This study provides new evidence on skill requirements in the labor market and shows to what extent these skills are associated with higher wage offers. Using more than 380,000 job postings published on Austria’s major employment website, I identify the most common skill requirements mentioned in job descriptions. Because employers in Austria are legally required to state the minimum remuneration for advertised positions, I can relate the skill content of jobs to offered wages using ad-level variation. Accounting for education, work experience, and firm and occupation fixed-effects, there exists a robust association between the number of skill requirements and wage offers. In particular, job ads with many skill requirements offer substantially higher wages. While I estimate large effects for managerial and analytical skills, associations with most soft skills are small. Overall, the analysis shows that skill requirements listed in online job ads can offer important insights on skill demand and skill wages differentials.
JEL-codes: J23 J24 J31 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:vie:viennp:2002
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