Labor market

Labor Market
The market in which workers compete for jobs and employers compete for workers.
Learn about compensation planning tools ...

Labor market
Labor economics seeks to understand the functioning of the labor market. Labor markets function through the interaction of workers and employers.

labor market the market in which individuals supply their labor time to firms in exchange for wages and salaries. (12)
labor market equilibrium the situation in which the quantity supplied of labor equals the quantity demanded of labor. (12) ...

Labor Market Flexibility
Firms' ability to make changes to their workforce in terms of the number of employees they hire and the number of hours worked by the employees. Labor market flexibility also includes areas such as wages and unions.

LABOR MARKET: A market that exchanges the services of labor resources. For the macroeconomy, this is a critical aspect of the aggregate resource markets, especially the short-run condition of rigid prices.

Ironically, the labor market rules that were intended to raise barriers against black workers blocked the path for what were commonly called 'poor whites,' the lowest tier of the protected class.

Employment Reports By Country Overview - Employment Reports track trends in the labor market. Employment... Employment Situation-Japan Employment Situation - Japan - The analysis of current conditions and...

Investigating the labor market Shiller (1997)13 documents - in this case through a survey - how interviewed people consider that nominal wages and inflation have the same behavior in the long run, ...

Strong jobs growth (of, say, 200,000 jobs) is an indication of healthy labor markets and a robust economy, while lackluster jobs growth (of, say, 50,000) points to economic weakness.

market society with a complex division of labor involves hundreds or even many thousands of discrete types of labor differentiated according to the kinds of skills and abilities required (each with their own separate but interconnected labor markets), ...

There are other frictions in the labor market that prevent it working smoothly e.g. lack of knowledge about available jobs. When somebody loses their job (or chooses to leave it), they will have to look for another one.

Labor market - A setting in which workers sell their human resources and employers buy human resources.
Labor union - A group of employees who join together to improve their terms of employment.

Therefore they avoided labor markets. These scholars also argue that, unlike in modern society, workers and their employers were enmeshed in a web of social relations that only capitalism would break.

We feel the labor market will steadily improve next year and Washington's extension of the Bush tax cuts and unemployment benefits will definitely add to GDP growth in 2011.

Example, from Ehrenberg and Smith: Suppose the equilibrium labor market wage for engineers is stable over a ten-year period, but at the beginning of that period the wage is above equilibrium for some reason.

A vocational school is sometimes the best way for an adult to reenter the labor market.

The diagram depicts the labor market, the fixed supply of labor (the labor endowment) being its width, and the two sectors' demands for labor drawn as functions of the wage from opposite corners.

Combinations of price level and income for which the labor market is in equilibrium.

survey conducted with other employers in the same labor market to determine pay levels for specific job categories. Generally wage and salary surveys are conducted in the surrounding community or metropolitan area for the purposes of comparability.

diagrammatically to show how stockholder interests and corporate governance issues impact on business performance, objective setting, the motivation of executives, and the position of the organization as an employer in specific labor markets;...

Because most workers have only their labor to sell in competition with labor-saving technologies and workers in other labor markets willing or forced to perform the same work at lower wages, ...

The Simple Keynesian Model, a vastly oversimplified view of the economy, constructs an equilibrium without referring to the labor market.

Competition and Scale Economies JEL: F13 - Commercial Policy; Protection; Promotion; Trade Negotiations; International Organizations JEL: F14 - Country and Industry Studies of Trade JEL: F15 - Economic Integration JEL: F16 - Trade and Labor Market ...

Nordic Council - A regional alliance established in 1952 between Norway, Sweden, Finland, Denmark, and Iceland that is dedicated to cooperation among the Nordic countries. This has led to a common labor market, social security, ...

Labor Force: The number of people in the country 15 years of age or over who either have a job or are actively looking for one. The labor market is the market that determines wages and the number of jobs based on the supply and demand for workers.

See also: Job, Equilibrium, Smith, Population, Long-run