labor market

  

Definition

The nominal market in which workers find paying work, employers find willing workers, and 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.


Use labor market in a sentence

Related Videos




http://www.businessdictionary.com/definition/labor-market.html

Have a question about labor market? Ask for help in the
Community
advertise here

Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z