Im pretty sure this topic has been explored, but how much does labor regulations beyond minimum wage contribute to search costs of employers and also employees. Do they also change the willingness of employers to hire workers of a high variability in their expected aptitude and experience?
/*Keeping in mind that I am privileged as fuck and therefore probably do not represent the average worker:
When looking for a job, there are certain things I look for beyond the wage, and I’ll take working hours and overtime as my two examples.
Locally, the default working hours for a salaried position are standardized by law – a work week in a full time position has this length – which means I don’t waste time worrying about it. This means I have never wasted time worrying about it past making sure that it is not a part-time job.
Overtime for a salaried position is not standardized by law. This means I definitely care, and have turned down offers once I realized they expected me to just suck it up when overtime happened.*
Similar concerns happened when I was a degree-less low-wage worker but sort of in-reverse – for hourly wages, the length of the work week is not standardized as such but overtime/weekend pay is. I say “as such” because of course there is a soft limit when you consider that overtime pay starts happening after X hours.
*Though I am a money hungry free-market type, this particular thing is not evidence of greed – I am OK with working extra without getting paid. No, I worry about the moral hazard that automatically happens when management can get extra work done without paying for it. Overtime is often promised to only happen when it is “important enough” but “enough” is a very variable bar when you compare “important enough to pay you twice your salary” with “important enough to pay you $0 extra" which I cannot avoid noticing is all the time.