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labor market

labor market

27 3.5
A system where employers find workers and people look for jobs
  • noun
  • /ˈleɪbər ˈmɑrkɪt/
  • Specialized
translation icon : mercado laboral
  • In Great Britain, by contrast, women have entered the labor market more slowly.
  • labor market outcomes
  • labor market returns
  • a tight labor market

So we can act firmly to make sure the labor market stays strong.

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Examples

  • They are forced to accept lower wages because the labor market is so weak.

  • The focus is not on student satisfaction but on student readiness for the labor market.

    Academic text (2013)
  • We still have tight labor markets and we still have growth.

  • Instead, strong growth in the tight labor market would solve these problems for us.

  • So he feels that policy makers need the domestic labor market to remain tight.

  • Millions of them are being withdrawn from the labor market, so the supply of workers is being cut.

  • Enhance the flexibility of the labor market.

  • The study finds that the completion of an academic major influences labor market outcomes.

    Academic text (2017)
  • Given the current labor market, it isn't surprising that recruitment has become HR's No. 1 challenge.

    Fiction book (1999)
  • The latest government jobs report shows that the labor market is recovering as more companies are hiring workers.

Synonyms

labor pool
vslabor market
  • US
4 3.7

A group of workers available for companies to hire

is the hiring system where supply and demand determine wages
labor resources
vslabor market
  • US
1 3.3

Workers who are available to do jobs in a country or company

is the hiring system where supply and demand determine wages

How Tight

labor market
  • Specialized
27 3.5
soft market
1 6.0

Surface Forms

labor market singular
labor markets plural
labour market singular

Morphology

labor + market

The meaning 'the system in which employers find employees and workers look for jobs' is directly derivable from combining 'labor' (workers) with 'market' (system of commerce); it denotes the market for labor in a literal, compositional way. This noun+noun compound is cross-linguistically common (e.g. Spanish 'mercado laboral') and follows standard English compounding patterns, so a B1 learner who knows both constituents will readily understand it.

Etymology

Labor market joins labor, the work people do, and market, a place to buy and sell. Imagine a market where, instead of goods, people offer their skills and employers come to find workers. That's why labor market means the system where workers and employers meet to agree on 'jobs' and 'pay'.