Working Paper

Online Job Posts Contain Very Little Wage Information

Abstract: We characterize the little wage information contained in online job posts. Wage information is rare: only 14% of posts contain any information. Of these, wage ranges are more common than point wages, and are wide on average, spanning 28% of the midpoint (e.g. $32,000-$42,000/yr). Posted wages are highly selected in low income occupations: 40% higher than wages of employed workers. High wage firms are more opaque, with more and wider ranges. We find zero correlation between wage information and local labor market tightness. We provide an example of bias in econometric inference that worsens as wage information falls.

Keywords: Search; Wages; Labor;

JEL Classification: D83; E24; J30;

https://doi.org/10.21034/iwp.83

Bibliographic Information

Provider: Federal Reserve Bank of Minneapolis

Part of Series: Opportunity and Inclusive Growth Institute Working Papers

Publication Date: 2023-12-21

Number: 083