labour-market
- Noun (countable, usually singular):
- The supply of available workers in relation to available work: "labour-market" refers to the economic environment in which employers seek employees and workers seek jobs, encompassing factors such as wages, working conditions, and the number of people seeking employment.
- A specific sector or region of employment: It can also denote the particular set of job opportunities and workers within a specific industry, geographic area, or skill level.
- (The policy intends to adjust the conditions of job availability and worker supply.)
- (New workers struggle to find jobs because many others are also seeking work.)
- (The job opportunities in the tech industry are plentiful.)
"labour-market tightness": a condition where there are more job vacancies than available workers, leading to higher wages.
- Labour-market tightness has driven up salaries in the construction industry. (Because there are few workers, employers must pay more to attract them.)
"labour-market participation rate": the percentage of working-age people who are either employed or actively seeking work.
- A high labour-market participation rate indicates a healthy economy. (Many people are either working or looking for work.)
"labour-market segmentation": the division of the labour-market into distinct sub-markets with different characteristics, such as primary (stable, well-paid jobs) and secondary (temporary, low-paid jobs).
- Labour-market segmentation often affects women and minority groups disproportionately. (Different groups face unequal access to good jobs.)
Labour market (noun, variant spelling): the same as "labour-market," often written without a hyphen.
- The labour market is influenced by technological changes. (The job environment is affected by new technology.)
Labour-market (adjective): used to describe something related to the labour-market.
- Labour-market data shows a rise in part-time employment. (Information about the job market indicates more people working part-time.)
Job market: the same concept, focusing on the availability of positions.
- The job market is improving for recent graduates. (More jobs are available.)
Employment market: the market where labour is bought and sold.
- The employment market is affected by seasonal demand. (The number of jobs changes with the seasons.)
A buyer's market (in labour): a situation where employers have more power because there are many workers seeking few jobs.
- In a buyer's market, companies can offer lower wages. (Employers can pay less because many people want jobs.)
A seller's market (in labour): a situation where workers have more power because there are many jobs and few workers.
- In a seller's market, employees can demand higher salaries. (Workers can ask for more money because employers compete for them.)