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date: 15 June 2024

Labor Markets. 

The Oxford Companion to United States History
Joshua L. RosenbloomJoshua L. Rosenbloom

The term “labor market” does not refer to a particular location or set of institutions. Instead it describes the processes of labor allocation in an economy, that is, the methods by which employers fill vacancies and workers find jobs, as well as the internal allocation of labor within businesses, households, and other economic organizations. The interaction of supply and demand in the market determines wages and employment.... ...

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