Definitions for "Labor Market" Add To Word List
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Those organizations performing related types of work, in related industries and/or locations that compete for employees with similar knowledge, skills, abilities, and other characteristics. For example, the labor market for FAA includes those contractors who hire similar types of employees to perform similar types of work.
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Current and potential employees in the workforce. Our primary labor markets are the metropolitan St. Louis area and the higher education industry.
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A setting in which workers sell their human resources and employers buy human resources.
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a geographical area from which an agency may reasonably expect to recruit employees.
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The market in which workers compete for jobs and employers compete for workers.
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