labour market
Job supply-demand system
The labour market is the system in which employers seek workers and workers seek employment, with wages and conditions determined by supply and demand.
Economists analyze the labour market to understand unemployment rates, wage trends, and workforce participation.
The term treats human labor as a commodity that can be bought and sold, though unlike other markets, factors like skills, location, and regulations heavily influence outcomes.
Recent graduates face a competitive labour market.
This is the British spelling; Americans write labor market.
- work forceEmployed population collectively
- job huntingSeeking paid employment
- brain drainEmigration of skilled workers
- employmentPaid occupation status
- hiring freezeSuspension of new employment
temp agency · pink slip · work · white collar · economic disparity · glass ceiling · income inequality · dismissal · service sector · industrial decline · technological change · manufacturing sector · economic cycles · class mobility · skills gap · trade unions · minimum wage · wage stagnation
- UK economyBank of England, pound sterling, GDP, London Stock Exchange, sterling
labour marketcapital market
Long-term securities trading system
commodity market · financial market · stock market · housing market · money market
labour marketunemployment
Being without paid work
retirement · subsistence economy · welfare dependency · non-participation · black market
labour marketunpaid work
Labor without remuneration
household economy · gift economy · subsistence farming · slavery · forced labour
labour, labor, laboured, labored, labouring, laboring, labourer, laborer, labourers