labor-market

labor market

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

Origin:
1825–35

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Based on the Random House Dictionary, © Random House, Inc. 2014.
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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.
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