The labor market is a term used to relate the employment, education, and financial information related to people involved in gaining or producing goods and services. Labour markets can be generally divided based on the criteria of the labor force. For example, a labor market may be separated by employment status (employed, unemployed, and not in the labor force), geography (city, suburb, and rural areas), gender, age, skills (education or experience), and race. Most domestic labor markets have similar characteristics in terms of the workforce.
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