Julie Carlson

President Biden, as part of his executive order on competition, directed the US Department of Treasury to report “on the effects of lack of competition on labor markets.” In March 2022, the Treasury released a report, “The State of Labor Market Competition,” concluding that “a careful review of credible academic studies places the decrease in wages [due to labor market power] at roughly 20 percent relative to the level in a fully competitive market.” Progressives use the report to justify much more aggressive antitrust enforcement, including in merger review, even though it presents virtual