Scale with finger tipping one side The concentration of many industries into fewer and fewer dominant players, combined with the decline of labor unions, may have tilted negotiating ability away from workers and toward corporations. (Photo: Shutterstock)

Now that unemployment has touched its lowest level since 1969, economists are puzzling even more over why wages haven’t been rising faster. After all, with fewer prospective workers seeking jobs, employers should be having to pay up to attract new employees and keep the ones they have. One theory about what’s going carries the name monopsony.

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