3 ms·
One thing I wonder- to what extent has the digitization of the job search process contributed to reduced wages? I can imagine several mechanisms that would cau
by CompelTechnic 9y ago
One thing I wonder- to what extent has the digitization of the job search process contributed to reduced wages? I can imagine several mechanisms that would cause this to reduce wage growth:
1. Widely available data on wages tends to introduce a lagging effect on wage inflation, because workers tend to look at data that is a least a couple of years old (imagine what pool of data is currently being used on glassdoor.com to create the salary estimate of that junior developer job you just looked at)
2. Recruiters have large amounts of data on current wages, and can negotiate from a greater position of power.
3. Recruiters have a larger pool of candidates to draw from and force to compete against eachother.
- swiley 9y agoMore like "widely available outdated data." Better (real time) access to data would help the situation, but the wording there makes it sound like you mean to say the opposite. The affect of bad data on the labor market almost looks like the affect of fake news in politics doesn't it?