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What is Labor Market
Labor market is a term that refers to an imaginary space where there is a conflict of labor supply, i.e. people, their skills, capacities, eligibility and qualifications, and demand from the employers.

Labor market is a term that refers to an imaginary space where there is a conflict of labor supply, i.e. people, their skills, capacities, eligibility and qualifications, and demand from the employers.

Labour market in practice: All of us occur on the labor market, because each person has certain skills, qualifications, an ability to perform a specific job and on the other side there is a demand from organizations and entrepreneurs who need for their run workers with appropriate abilities, skills and qualifications. Used term situation in labor market is, what the current demand and supply in the market is, whether there are enough jobs and opportunities or not.

People use various forms to search for their employability:

  • Ads on work/personnel portals or social networks
  • Search jobs and vacancies at the company website
  • Search jobs through friends - on the recommendation
  • Search jobs on specialized community sites and discussion forums

Organizations search virtually the same resources to recruit workers. Generally, the more skilled positions, the more personal and sophisticated forms are used. On the contrary, the more the position has lower qualifications - e.g. blue-collar workers, the less sophisticated and more mass means are used (e.g. employment offices).

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Last update: 12.10.2015

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