Also known as nominal wages, monetary remuneration paid to employees, such as a monthly salary of 8,000 yuan

The purchasing power of money wages, the amount of goods and services that can be purchased

In reality, the monetary wage level is always higher than the actual wage level

The urgency of employer’s need for labor

The urgency of workers to meet their daily needs

The balance of power between the negotiating parties

Living expenses of workers (individual and family)

Equal pay for equal work

Enterprise salary payment ability

Large companies have more special training opportunities than small companies, which is conducive to training employees and establishing long-term employment relationships with the company.

High wages can be seen as a compensating wage difference: under strict requirements, if the attractiveness is less attractive, some compensation needs to be provided

Large companies can provide employees with multiple levels of promotion opportunities in the career "job ladder"

In larger companies, the cost of job vacancies is high

The greater the proportion, the higher the overall wage level; the greater the proportion of unskilled workers, the lower the overall wage level.

Industrial sectors that are large in scale and have a high proportion of capital investment per capita also have higher per capita wages: such as the financial industry and investment banking

Industries with low capital investment requirements, low entry barriers, and competitive market structures have a large proportion of labor costs and generally belong to low-wage industrial sectors, such as clothing processing factories, textiles, and leather product production industries, etc.

During the boom period, wages were high

During recession, wage growth is difficult

In sectors where production is booming, favorable economic conditions will keep wages above the overall average

In sectors with poor production, wages are lower than the overall average.

Sooner or later it will tend to a similar level

Differences in labor intensity and working conditions

The difference between pleasure and unpleasantness

There are differences in the difficulty of professional abilities

There are different levels of social security, i.e. job security and career stability.

Differences in the degree of responsibility required of practitioners

compensatory wage differential

Competitive wage differential (skill wage differential)

Monopoly wage differential (non-compensatory wage differential)

Caused by incompatible skills and incoordination with regional structures

The reason is that unemployed workers cannot afford the cost of learning skills or moving to a new area, or the process is too long and they cannot master the required skills in the short term.

How quickly the demand for labor changes

Can labor supply adapt to changes in demand?

Technology substitution flexibility

How quickly you learn another skill or occupation

differences in geography

Strengthen labor market intelligence efforts

The government provides funds to transfer resettlement fees from areas with a surplus of labor to areas with a shortage.

Develop training plans to synchronize job knowledge updates with technological developments

Provide career guidance and supply and demand forecasts

Demand in some industries fluctuates with seasonal changes, such as agriculture, tourism, construction, shipping, etc.

The demand for labor during the purchasing peak (peak season) and trough (off season) of some industries, such as the clothing industry, shoemaking industry, etc.

Insufficient total enterprise demand