Labor Market - Explained
What is the Labor Market?
Written by J. Mance Gordon
Updated at April 23rd, 2024
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What is the Labor Market?
The labor market is essentially the supply and demand for workers. As the demand for employees fluctuates and increases or decreases within the market, the supply of employees changes along with the fluctuation.
What influences the labor market?
There are many factors that can influence the market:
- Minimum wage
- Immigration
- Inflation
- Technology
Related Topics
- Labor Economics
-
Labor Market Equilibrium
- Labor Market
- Labor Market Equilibrium
- Labor Market Efficiency
- Price, Supply, and Demand in the Labor Market
- Equilibrium Wage
- Shifts in the Demand for Labor
- What Causes Shifts in the Supply Labor?
- How Technology affects Demand for Labor?
- Minimum Wage as a Price Floor in the Labor Market
- What is the First Rule of Labor Markets?
- Labor Demand in Perfectly Competitive Markets
- Imperfect Competition in Labor Markets
- Monopsony
- Oligopsony
- Labor Market Power of Employers
- What is the marginal Cost of Labor?
- Labor Market Power of Employees
- What is a Bilateral Monopoly in a Labor Market?
- Wage Elasticity of Labor Supply
- Equilibrium in Supply and Demand in Labor Markets
- Shifts in Supply and Demand in Labor Markets