Labor economists study the dynamics of labor markets, focusing on how wages, employment, and productivity are influenced by various factors. They analyze data related to unemployment rates, job growth, and worker demographics to understand trends and make predictions about the economy. These professionals often work for government agencies, research institutions, or private companies, providing insights that help shape policies and business strategies. By examining issues like minimum wage laws and labor unions, labor economists contribute to discussions on improving working conditions and economic outcomes for both workers and employers.