Labor Market
/ˈleɪbər ˈmɑːrkɪt/
Definitions
- (n.) The economic and legal environment where employers offer jobs and workers seek employment, including regulation on hiring, wages, and labor rights.
The labor market was significantly affected by the new employment laws.
- (n.) The aggregate supply and demand for labor within a particular jurisdiction or sector, often shaped by labor policies and collective bargaining agreements.
Labor market conditions improved due to recent trade union negotiations.
Forms
- labor market
- labor markets
Related terms
See also
Commentary
The term encompasses both economic and legal aspects, often addressing regulatory frameworks that affect employment conditions and worker protections.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.