Definition

The Labor Market

A labor market is the area from which an organization recruits its employees. Such an area may be metropolitan, regional, provincial, national or international. The number of people available for work depends on factors such as the unemployment rate, geographic migration, graduation rates from educational institutions, and so on.

Share it:  Cite

More from this Section

  • Essay appraisal
    Essay appraisal is an appraisal strategy requiring the rater to provide a narrative description ...
  • Curriculum vitae (c.v.)
    Curriculum vitae (c.v.) can be defined as used in the United States to describe, a longer, ...
  • Fair labor standards act
    Fair labor standards act means a 1938 federal law that requires most employers to pay ...
  • Hot-Cargo agreement
    Hot-Cargo agreement is a boycott agreement between management and union that workers may ...
  • Malcolm Baldridge Award
    Malcolm Baldridge Award is an award created by the U.S. Department of Commerce to recognize ...