Labour Market

Refers to the interaction between employers and employees, where individuals offer their skills and services in exchange for wages or salaries. It is a dynamic system that encompasses the supply and demand for labor, job opportunities, and the negotiation of wages and working conditions. Employers seek to hire workers with the necessary skills, qualifications, and experience to perform specific organizational tasks or roles in the labour market. On the other hand, individuals actively participate in the labor market by seeking employment opportunities that align with their skills, interests, and career goals. Factors such as economic conditions, technological advancements, government policies, and demographic trends influence the labor market. Changes in these factors can impact the demand for certain types of jobs and skills and the availability of job opportunities.