> That is, if Google doesn't hire me, it doesn't lose out on much. For Google, maybe a small fraction of its capital isn't deployed, which is unfortunate but doesn't make a dent in the grand scheme of things. But if I don't have a job, then I will lose out on a lot -- I can't pay bills, I might lose my home. So I have a strong incentive to accept an offer from Google, and therefore Google has a lesser incentive to offer me better compensation.

You're comparing apples and oranges here, in that you're comparing Google not hiring a single employee to you not getting _any_ job. The analogue to you failing to get any job is Google failing to hire any employees, at which point it ceases to exist, which isn't the case for even the chronically unemployed. The comparison as you've constructed it proves the _opposite_ of your claimed point (though I should note that I think the whole construction is weak; I'm certainly not drawing the conclusion that workers have more power than Google)