Occupational Market

Definition (1):

Occupational Market is the bureau of Labor Statistics of the U.S. Department of Labor published projections of labor supply and demand for various occupations, as do other agencies.

Definition (2):

Occupational Market can also refer to an educational system that is likely to be classified and standardized. This education is specific and vocational and has a tendency of leading to structured labor force integration. This educational system as an external market generates various levels of qualification the labor market can depend on. Thus, this form of education and training system ascertains the type of skills it provides. For this reason, there is a close link between this educational system and the labor market and between qualifications and positions of the labor market too. Occupational Market is also known as the occupational labor market.

This labor market should not be misunderstood with the organizational labor market which refers to school-to-work transition that is less structured by education. In this system, the link between skills and positions of the labor market and additionally market results of individuals entering the market rely on work experience. As per a “lower level of job-match quality,” there is a “higher level of worker mobility” in the starting of careers.