labor demand
Employer workforce appetite
Labor demand is the quantity of workers that employers are willing and able to hire at a given wage level.
When businesses expand or wages fall, labor demand typically increases; when the economy contracts or wages rise, it decreases.
Economists distinguish between demand for labor generally and demand within specific industries or skill levels: The tech sector's labor demand has outpaced supply.
- unemployment ratePercentage without jobs seeking work
- full employmentAll willing workers employed
- minimum wage lawsLegislated lowest permissible pay
- productivityOutput relative to input
- job vacanciesUnfilled employment positions
help wanted · manufacturing jobs · demographic shifts · educational attainment · immigration policy · skilled workers · business cycles · anti-discrimination laws · wages · wage rate · economic migration · collective bargaining · hiring trends · seasonal work · capital investment · hiring · payroll · payroll taxes
labor demandlabor supply
Available workforce for hire
job seekers · job hunting · talent pool · job search · workforce participation
labor demandunemployment
Being without paid work
job scarcity · hiring freeze · layoffs · downsizing · workforce reduction