trueHow Hiring Decisions by Industry Leaders May Shape Local Labor MarketsThis study shows how hiring decisions by large industry-leading firms interact to influence local labor markets—revealing that increases in one firm’s job postings can reduce others’ hiring through wage competition and tighter matching conditions.11/11/2025A professional, minimalist illustration depicting interconnected business figures and digital nodes symbolizing competition for talent among large firms. The design represents how hiring decisions by major companies influence labor markets and workforce dynamics.Andrew Yizhou Liueconomicseffects of vacancy postings on wages and matching frictionshow large firms shape local labor marketsindustry leaderslabor demandmanagementresearchstrategic complementarity in hiringvacancy postingswage competition