A collective term that includes all workers, employed or unemployed, who have been or might be hired into paid positions. Labor markets are described as strong or weak depending on the availability of workers to fill positions. In addition to the general labor market, there are also labor markets for specific regions and industries.
Related information about labor market:
- Labour economics - Wikipedia, the free encyclopedia
Glen G. Cain, 1976. "The Challenge of Segmented Labor Market Theories to Orthodox Theory: A Survey," Journal of Economic Literature, 14(4), pp. 1215- 1257.
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This paper reviews the recent labor-market performance of 21 rich countries, with a focus on Denmark and Greece and lessons for the United States.