HR Glossary

Labor Market

Table of contents

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.

what-is-labor-market

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.

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