Citation: Council of Economic Advisers (2016) Labor Market Monopsony: Trends, Consequences, and Policy Responses.
Internet Archive Scholar (search for fulltext): Labor Market Monopsony: Trends, Consequences, and Policy Responses
Download: https://www.whitehouse.gov/sites/default/files/page/files/20161025 labor mrkt monopsony cea.pdf
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Summary

Describes sources of and evidence for labor market monopsony/wage-setting power:

market concentration (limited number of firms in market for particular kind of labor)
employer collusion
non-compete agreements
job search costs and labor market frictions
"job lock" of employer-mediated benefits such as health insurance
regulatory barriers to mobility (eg occupational licensing, land use regulation)

Describes policy solutions:

independent anti-trust enforcement (employer/HR education, whistleblower-like protections for labor market collusion reporting)
reform non-compete laws
improve info available to workers/promote pay transparency
promote equal pay for equal work
expand paid sick leave/other minimum benefits
reduce job lock through affordable non-employer health insurance
support workers' collective bargaining/concerted activity rights
modernize overtime regulations
raise the minimum wage

Labor Market Monopsony: Trends, Consequences, and Policy Responses