Dominant employers are preventing wages growing more quickly in Australia, according to a new Treasury paper.
"In other words, after inflation, Australian workers earned only $18 per week more in November 2022 than they did in November 2012."
It found employment concentration is twice as high in inner regional areas as it is in major cities, and it is three times as high in remote areas. The HHI is bounded from 0 to 1. "More employment options mean greater bargaining power. Workers can swap jobs and move on to better pay and conditions with another employer.
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