Arbeitspapier
Labor shortages and wage growth
This paper presents a novel measure of labor market conditions based on micro data from a large business survey in Sweden. The indicator, relative labor shortages (RLS), is the ratio of respondents' quantitative assessment of labor shortages and current employment. Contrary to other surveybased measures of labor market conditions and the vacancy-unemployment ratio, RLS remained relatively subdued during the 2013-2018 recovery from the Great Recession. As the indicator is highly correlated with annual wage growth at the establishment-level, its slow recovery can help explain why wage growth in Sweden has been sluggish since the Great Recession.
- Language
-
Englisch
- Bibliographic citation
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Series: Sveriges Riksbank Working Paper Series ; No. 394
- Classification
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Wirtschaft
Price Level; Inflation; Deflation
Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General
Wage Level and Structure; Wage Differentials
Labor Demand
Data Collection and Data Estimation Methodology; Computer Programs: General
- Subject
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Wage inflation
labor shortages
survey data
- Event
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Geistige Schöpfung
- (who)
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Frohm, Erik
- Event
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Veröffentlichung
- (who)
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Sveriges Riksbank
- (where)
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Stockholm
- (when)
-
2020
- Handle
- Last update
-
10.03.2025, 11:44 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Frohm, Erik
- Sveriges Riksbank
Time of origin
- 2020
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