by Eduardo Porter March 7, 2022
A Biden administration report says collusion and other constraints on competition hold down pay and prospects in the labor market.
The recent narrative is that there is a tight labor market that gives workers leverage. But a new report from the Biden administration argues that the deck is still stacked against workers, reducing their ability to move from one employer to another and hurting their pay.
The report, released Monday by the Treasury Department, contends that employers often face little competition for their workers, allowing them to pay substantially less than they would otherwise.