Monopsony in the US Labor Market

Is the US manufacturing labor market a monospony?

11 mins
What is it about?

Economics

Journal

Monopsony is term used to define the sole employer of labor in a given profession. So, the more workers are employed by a single employer, that enables monopsony power. For example, a majority of the nurses and teachers may be employed by the State, which gives them monopsony power.