What is the ‘Job Market’
The job market is the market in which employers search for employees and employees search for jobs. The job market is not a physical place as much as a concept demonstrating the competition and interplay between different labor forces. The job market can grow or shrink depending on the labor demand and supply within the overall economy, specific industries, for specific education levels or specific job functions.
Explaining ‘Job Market’
The job market is directly related to the unemployment rate. The higher the unemployment rate, the greater the supply of labor in the overall job market. When employers have a larger pool of applicants to choose from, they can be pickier or force down wages. As the unemployment rate drops employers are forced to compete more heavily for available workers, which has the effect of increasing wages.
Further Reading
- Financial market complexity – ideas.repec.org [PDF]
- Participating in a highly automated society: How artificial intelligence disrupts the job market – www.ceeol.com [PDF]
- Financial institutions and markets – ideas.repec.org [PDF]
- Job market signaling: what drives the productivity of finance Ph. Ds? – onlinelibrary.wiley.com [PDF]
- Toward a new international financial architecture: a practical post-Asia agenda – ideas.repec.org [PDF]
- Institutional economics – ideas.repec.org [PDF]
- Financial statement analysis – ideas.repec.org [PDF]
- Bureaucracy and public economics – ideas.repec.org [PDF]
- Micro-finance and the Empowerment of Women: A Review of the Key Issues – ideas.repec.org [PDF]
