Labour Markets

Labour markets are where employers seek workers and individuals seek jobs. They determine how many jobs are available, the wages offered, and the skills needed. Factors such as economy health, education, and government policies influence supply (people looking for work) and demand (employers hiring). When demand for workers is high and supply is limited, wages tend to rise. Conversely, if many people want jobs but few are available, wages may fall or unemployment increases. The labour market helps balance the need for workers with the availability of jobs, shaping overall employment and economic well-being.