labor market

noun
the available supply of labor considered with reference to the demand for it.

Origin:
1825–35

Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2013.
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American Heritage
Cultural Dictionary

labor market definition


An area of economic exchange in which workers seek jobs and employers seek workers. A “tight” labor market has more jobs than workers. In a “slack” labor market, the reverse is true.

The American Heritage® New Dictionary of Cultural Literacy, Third Edition
Copyright © 2005 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
Cite This Source
00:10
Labor market is always a great word to know.
So is ninnyhammer. Does it mean:
an arrangement of five objects, as trees, in a square or rectangle, one at each corner and one in the middle.
a fool or simpleton; ninny.
Example sentences
In this tight labor market it's more important than ever to retain employees.
But others are still looking for work and stuck in a labor market that won't
  have them.
But the decline in their fortunes points to a signature outcome of the long
  downturn in the labor market.
With low-level skills, they have had an awful time in the labor market.
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