Labor market dynamics refer to the patterns and changes in employment opportunities, wages, job demand, and other factors that affect workers' decisions regarding their occupation, employment status, and mobility within an economy.
Related terms
Unemployment Rate: The percentage of people who are actively seeking employment but cannot find work.
Wage Inequality: Refers to differences in earnings among different groups within an economy, such as gender or educational attainment.
Occupational Mobility: The ability for workers to switch occupations based on changes in demand or personal preferences.