Labor Market Under High Housing Prices:Wage Gap And Regional Distribution Of Talents

In the past three decades,the rapid economic development,the rising house prices and the increasing regional differences in house prices have distorted the market prices of labor market factors,and have an important impact on the labor flow and the changes in the skill structure of the labor market.At present,the economy has entered a stage of high-quality development.Promoting the flow of labor and high-skilled talents is the source of vitality for innovation-driven economic development and the objective need to adapt to China’s economic development.However,the high housing price brings the rising pressure of urban living costs,and the skilled labor force in the labor market has different mobility options due to the difference of individual bargaining power,which leads to the gap of skilled wages and the talent flow and regional distribution pattern.Smooth the rational and orderly flow of talents,so as to promote the balanced distribution of regional talents,and narrow the income gap is an important part of achieving regional coordinated development and promoting common prosperity.However,China is currently facing the problems of widening the gap between skills and wages and unbalanced regional distribution of talents.This dissertation attempts to analyze the formation of the wage gap and the regional distribution of talent in the labor market under high housing prices from the perspective of labor bargaining power and mobility in a unified framework,combined with the realistic background of high urban housing prices.First of all,it analyzes that under the background of distorted housing prices,individual mobility decision-making is limited by the improvement of skills threshold of talent mobility caused by the difference in bargaining power,resulting in the difference in skills within the city,and forming the spatial distribution of talent;Secondly,it analyzes the typical fact that the difference in bargaining power of the labor market produces skill premium under the regional housing price difference,and divides the labor force into two types of high-skilled labor force and low-skilled labor force according to the high and low skills.Through model deduction,it analyzes why the rising housing price leads to the widening of the wage gap of skilled labor force;Thirdly,the dissertation empirically examines the internal causes of the difference in urban skill wages under high housing prices through econometric analysis;Then,by distinguishing the regions with high and low housing prices,this dissertation objectively describes the overall situation of the polarization of high-skilled talents and the formation of the regional distribution of talents,and analyzes the theoretical logic of the regional preference for the regional flow of talents through mathematical models;Then,under the dual background of the real estate regulation principle of "no speculation in real estate" and the talent policy competition,this dissertation examines the impact of the distortion of housing prices and the talent housing policy on the migration decision of labor with different skill levels through empirical analysis;Finally,put forward corresponding policy recommendations.This dissertation tests the theoretical conclusions by constructing urban panel samples from multiple data sources,and the empirical results support some theoretical conclusions.The study found that in an imperfect competitive labor market,the degree of freedom of spatial mobility of labor with different skill levels varies due to differences in bargaining power.Faced with high housing prices,highly skilled labor is able to propose wages that match housing prices during wage negotiations,and can negotiate to obtain wages that are higher than those determined by local technological levels.If the income can cover housing prices and mobility costs,Individual mobility decision-making is limited by the skill threshold of talent mobility promoted by the distortion of housing prices;However,low-skilled labor can only passively accept the wages determined by the local economic structure,and because of the increase in living costs caused by high housing prices,it is easy to be squeezed into areas with low housing prices,resulting in the expansion of the supply of low-skilled labor in areas with low housing prices,further weakening the bargaining power of low-skilled labor,and finally,the regional differences in housing prices strengthen the regional differentiation of income inequality within cities.Then,this dissertation finds that the implementation of talent housing policy in cities with high housing prices will attract high-educated talents and squeeze out low-educated labor,and the role of talent housing policy in increasing the proportion of high-educated migrant population and in squeezing out low-educated migrant population will increase with the increase of urban housing prices;The impact of talent housing policy on talent attraction is likely to be short-term,especially for economically underdeveloped areas,which cannot effectively retain talents by policy alone.At present,the regional distribution of talent in China is still limited by the level of economic development in one region,and the level of urban soft power has improved the implementation effect of urban talent policies.This dissertation believes that while promoting the new development stage of common prosperity for all people and ensuring the stable development of the real estate market,we should fully consider the changes in the supply and demand structure of the labor market,create employment and income growth opportunities for low-skilled labor,and point out the target direction of talent distribution.Specifically,in terms of reducing the wage gap under high housing prices,we should improve the income distribution system,improve the wage growth mechanism,and narrow the gap through multiple employment;Adhere to the policy of "houses are for living in,not for speculation",optimize the policy of "meet the housing needs of all people",and ensure the rights and interests of "meet the housing needs of all people";Deepen the reform of the registered residence system,emphasize the "people-oriented" attribute,and improve the service assessment mechanism;Accelerate vocational skill training,achieve an "upward leap" in employment,and address the risk of "Low-end locking";We will ensure that distribution is open and transparent,form a good distribution order,and expand middle-income groups.In terms of optimizing the regional distribution of talents under high housing prices,we should stabilize the property market price in the short term,adjust the industrial structure in the long term,and the talent concentration is in a positive cycle;Optimize the talent introduction policy,improve the talent market mechanism,and put an end to spending money to compete with others;Pay attention to the talent skill threshold,closely link with the actual situation of the city,and retain and attract talents with soft power;Perfect the talent flow mechanism,smooth the talent flow channel,and standardize the talent flow order;Perspective the talent distribution pattern,expand the incremental supply of talent,and optimize the allocation of talent stock.The research in this dissertation is of great significance to optimize the regional distribution pattern of talents,promote common prosperity,and realize high-quality economic development.