Labour Market
The labour market refers to the supply and demand for workers in a specific economy. It encompasses all the jobs available and the individuals seeking employment. Factors such as economic conditions, industry growth, and government policies can influence the labour market, affecting wages and job availability.
In the labour market, employers look for qualified candidates to fill positions, while job seekers search for suitable roles. The interaction between these two groups determines employment rates and can lead to changes in job types, skills required, and overall workforce dynamics. Understanding the labour market is essential for both workers and businesses.