In March 2018 we published the first version of this note describing some of the characteristics of monopsony, a phenomenon increasingly present in the labor markets of Latin America and the Caribbean. Six years later, we decided to update this blog with new references and recent data that account for a major market failure and may be one of the causes of persistent low labor … [Read more...] about What Is Monopsony and How Does It Affect the Labor Market?
Productivity
Job Skills: What Are They and Which Ones Are Most in Demand?
Much is said about "new skills for work". They are the ones employers look for in everchanging industries and get updated almost at the same rate as our smartphones get updated. That was the metaphor that a colleague at IDB's Labor Markets Division used when he invited me to think about workers' skills development in Latin America and the Caribbean. The way we work in the … [Read more...] about Job Skills: What Are They and Which Ones Are Most in Demand?