Wages, Compensation, and Labor Costs

Wages, compensation, and labour costs (JEL J3) cover the determination of pay and labour costs.

Scope

It includes wage determination, compensation structure, wage differentials, and benefits.

Sub-topics

• General
• Wage Level and Structure • Wage Differentials
• Nonwage Labor Costs and Benefits • Retirement Plans • Private Pensions
• Compensation Packages • Payment Methods
• Public Policy
• Other

Core questions

• What determines wages?
• How is compensation structured?
• Why do wages differ across workers and jobs?

Key concepts

• Wage determination
• Compensation
• Wage differentials
• Human capital
• Benefits

Frequently asked questions

Why do wages differ across workers?

Differences in human capital, productivity, job characteristics, and labour-market conditions.