labor market

Origin of labor market

First recorded in 1825–35
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2018

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labor market in Culture

labor market

An area of economic exchange in which workers seek jobs and employers seek workers. A “tight” labor market has more jobs than workers. In a “slack” labor market, the reverse is true.

The New Dictionary of Cultural Literacy, Third Edition Copyright © 2005 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.