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RBA Glossary definition for labour market

labour market – A collective term for employment, unemployment, participation rates and wages.

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Did Labour Market Concentration Lower Wages Growth Pre-COVID?

1 Mar 2023 RDP 2023-02
Jonathan Hambur
Research Discussion Paper – RDP 2023-02 Did Labour Market Concentration Lower Wages Growth Pre-COVID? ... This may help explain surprisingly low wages growth pre-COVID, despite labour market concentration having remained constant.
https://www.rba.gov.au/publications/rdp/2023/2023-02.html

How concentrated are Australian markets?

1 Mar 2023 RDP 2023-02
Jonathan Hambur
RDP 2023-02: Did Labour Market Concentration Lower Wages Growth Pre-COVID? 4. ... Assessing whether labour markets are highly concentrated is difficult given the lack of clear guidance on what constitutes a ‘concentrated’ market.
https://www.rba.gov.au/publications/rdp/2023/2023-02/how-concentrated-are-australian-markets.html

Did Labour Market Concentration Lower Wages Growth Pre-COVID?

1 Mar 2023 RDP 2023-02
Jonathan Hambur
Assessing whether labour markets are highly concentrated is difficult given the lack of clear guidance on what constitutes a ‘concentrated’ market. ... Errors clustered at the local market level. One potential explanation could be softer labour
https://www.rba.gov.au/publications/rdp/2023/2023-02/full.html

Appendix A: Additional charts and tables

1 Mar 2023 RDP 2023-02
Jonathan Hambur
RDP 2023-02: Did Labour Market Concentration Lower Wages Growth Pre-COVID? Appendix A: Additional charts and tables. ... 0.103. 75th percentile. 0.584. 0.133. Note: Reports summary statistics for local labour markets.
https://www.rba.gov.au/publications/rdp/2023/2023-02/appendix-a.html

Conclusion

1 Mar 2023 RDP 2023-02
Jonathan Hambur
RDP 2023-02: Did Labour Market Concentration Lower Wages Growth Pre-COVID? 7. ... Overall, this paper has demonstrated that the increasing impact of labour market concentration may have weighed on wages growth pre-COVID, subtracting a bit under 1 per
https://www.rba.gov.au/publications/rdp/2023/2023-02/conclusion.html

Appendix B: Regression robustness results

1 Mar 2023 RDP 2023-02
Jonathan Hambur
RDP 2023-02: Did Labour Market Concentration Lower Wages Growth Pre-COVID? Appendix B: Regression robustness results. ... Local Labour Market models. Plant-level model. Labour market. Labour market -Over time.
https://www.rba.gov.au/publications/rdp/2023/2023-02/appendix-b.html

Data

1 Mar 2023 RDP 2023-02
Jonathan Hambur
RDP 2023-02: Did Labour Market Concentration Lower Wages Growth Pre-COVID? 3. ... Based on these definitions, I have around 190 industries, 290 working zones, and about 25,000 local labour markets per year.
https://www.rba.gov.au/publications/rdp/2023/2023-02/data.html

Did Labour Market Concentration Lower Wages Growth Pre-COVID?

1 Mar 2023 RDP 2023-02
Jonathan Hambur
https://www.rba.gov.au/publications/rdp/2023/2023-02/sections.html

Did Labour Market Concentration Lower Wages Growth Pre-COVID?

1 Mar 2023 RDP 2023-02
Jonathan Hambur
https://www.rba.gov.au/publications/rdp/2023/2023-02/read-me.html

Non-technical summary for ‘Did Labour Market Concentration Lower Wages Growth Pre-COVID?’

1 Mar 2023 RDP 2023-02
Jonathan Hambur
Regional labour markets tend to be much more concentrated. Increases in labour market concentration are associated with lower wages and wages growth. ... On average, labour markets did not become more concentrated in Australia from 2005–2016.
https://www.rba.gov.au/publications/rdp/2023/2023-02/non-technical-summary.html