Wage and unemployment: evidence from online job vacancy data

Oleksandr Faryna, Tho Pham, Oleksandr Talavera, Andriy Tsapin

Research output: Contribution to journalArticlepeer-review

Abstract

This paper examines the relationship between labour market conditions and wage dynamics by exploiting a unique dataset of more than one million online job vacancies. We find a weak trade-off between aggregate wage inflation and unemployment. This link becomes more evident when the wage inflation is disaggregated at the sectoral and occupational level. The examination, using vacancy-level data, shows a negative correlation between offered wage and unemployment. The degree of wage elasticity, however, is different across regions and skill segments. Our findings suggest the importance of micro-level data's unique dimensions in examining the wage – unemployment relationship.
Original languageEnglish
JournalJournal of Comparative Economics
Early online date22 May 2021
DOIs
Publication statusE-pub ahead of print - 22 May 2021

Keywords

  • Phillips curve
  • wage curve
  • heterogeneity
  • micro data
  • online vacancies

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