Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/260670 
Year of Publication: 
2021
Citation: 
[Journal:] IZA World of Labor [ISSN:] 2054-9571 [Article No.:] 3v2 [Publisher:] Institute of Labor Economics (IZA) [Place:] Bonn [Year:] 2021
Publisher: 
Institute of Labor Economics (IZA), Bonn
Abstract: 
Higher labor costs (higher wage rates and employee benefits) make workers better off, but they can reduce companies' profits, the number of jobs, and the hours each person works. The minimum wage, overtime pay, payroll taxes, and hiring subsidies are just a few of the policies that affect labor costs. Policies that increase labor costs can substantially affect both employment and hours, in individual companies as well as in the overall economy.
Subjects: 
labor demand
wages
employee benefits
JEL: 
J20
J23
Persistent Identifier of the first edition: 
Document Type: 
Article

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