What is Labor Market?
Labor market is a geographical region (local, national or international) that acts as a place of interaction in which labor transactions occur in a supply-demand fashion: employers find workers and workers find work.
Labor market definition
Labor market is a geographical region (local, national or international) that acts as a place of interaction in which labor transactions occur in a supply-demand fashion: employers find workers and workers find work.
Employers want to hire the best workers while workers want to find a satisfying job. Labor market is influenced by wages and unemployment ratio.