What is the best definition of job market?

Economics Dec 17, 2020

Expert Solution

The job market is where those who have a skill offer them for wages to those who need that skill to do a particular job. The rarer an in-demand skill is, the higher the wages that skill fetches, and the more common a skill is, the lower the wages that skill fetches. A strong job market is where most people seeking a job find one at the optimal rate for their wages.

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