Interindustry Wage Differentials
1 Discuss the reasons for interindustry wage differentials.
Are equivalent workers performing similar work paid more in some industries than in others? Most often, the answer is yes. In a competitive labor market, companies attempt to attract and retain the best individuals for employment partly by offering lucrative wage and benefits packages. Some companies are unable to compete with companies in other industries on the basis of wage and benefits because of persistent interindustry wage differentials. Interindustry wage differentials represent the pattern of pay and benefits associated with characteristics of industries. Interindustry wage differentials can be attributed to a number of factors, including the ...
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