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<blockquote data-quote="59 Dano" data-source="post: 4711234" data-attributes="member: 23516">They call it an education.Monopsonistic and oligopolistic labor markets are, respectively, labor markets with one or few employers and both are rarely in competition for labor as they exist in captive markets.&nbsp; Most of the jobs require little to no education or skill.&nbsp;&nbsp; Hence, there is rarely an economic incentive to offer much more than a labor market&#039;s reservation wage and the absolute minimum in terms of working conditions to attract and retain employees in those labor markets.&nbsp; HENCE, there is a greater incentive (not to mention need) for those workers to enter into collective bargaining agreements as opposed to someone living in an urban/suburban area where the labor market it much more diverse and competitive and where an employee has many more options for employment.&nbsp; Hope that cleared it up!</blockquote>

[QUOTE="59 Dano, post: 4711234, member: 23516"] They call it an education. Monopsonistic and oligopolistic labor markets are, respectively, labor markets with one or few employers and both are rarely in competition for labor as they exist in captive markets. Most of the jobs require little to no education or skill. Hence, there is rarely an economic incentive to offer much more than a labor market's reservation wage and the absolute minimum in terms of working conditions to attract and retain employees in those labor markets. HENCE, there is a greater incentive (not to mention need) for those workers to enter into collective bargaining agreements as opposed to someone living in an urban/suburban area where the labor market it much more diverse and competitive and where an employee has many more options for employment. Hope that cleared it up! [/QUOTE]

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