Glossary
Macro & Markets
Labour Market
The labour market refers to the people, including the human capital, that are either actively looking for a job, unemployed or inactive (e.g., in education or retirement). The aggregate supply of labour into an economy (people in employment and those seeking employment) is defined by the demand for goods and services in that economy, as that demand dictates demand for labour. Wages reflect the relative balance of supply and demand for labour.