Secondary Labor Market
The Secondary Labor Market refers to a segment of the job market characterized by lower wages, less job security, and fewer benefits compared to the primary labor market. Jobs in this sector often include positions in industries such as retail, hospitality, and agriculture. Workers in the secondary labor market may face unstable employment and limited opportunities for advancement.
This market typically attracts individuals who may lack higher education or specialized skills, including part-time workers and those in temporary positions. The Secondary Labor Market plays a crucial role in the economy by providing essential services, but it often leaves workers vulnerable to economic fluctuations.