Labour Market

[ˈleɪbə | ˈmɑrkət]

Labor Market (which is also known as job market) is a term that refers to the demand and supply of labour within a defined area or country; which means that the employer provides the supply and the employees provide the demand. 

This is an essential component of the economy as it helps both employers and potential employees to be aware of what is available out there; most employers use the labour market demographics before creating positions within their organization.

Part of speech:
Use in a sentence:
In this particular area, the labour market is tight.
Labor Market