labor market
Definition
Usually an informal market where workers find paying work, employers find willing workers, and where wage rates are determined. Labor markets may be local or national (even international) in their scope and are made up of smaller, interacting labor markets for different qualifications, skills, and geographical locations. They depend on exchange of information between employers and job seekers about wage rates, conditions of employment, level of competition, and job location.
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labor market is in the Economics, Politics, & Society subject.
labor market appears in the definitions of the following terms: key jobs, market pricing, labor supply, frictional unemployment, national rate of unemployment, wages and Eurosclerosis
labor market appears in these other terms: secondary labor market, primary labor market
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