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other factors being constant (cetris peribus), price and quantity demand of any good and service are inversely related to each other.</div><a class="moreRead" href="/definition/law-of-demand">Read More</a></div></li><div class="clr"></div></ul></div><div class="clr"></div></div><h1 class="definitionTitle">What is 'Labour Market'</h1><br><div class="section1"><div class="Normal"><p> <em><strong>Definition:</strong></em> A labour market is the place where workers and employees interact with each other. In the labour market, employers compete to hire the best, and the workers compete for the best satisfying job.<br> <br> <em><strong>Description:</strong></em> A labour market in an economy functions with demand and supply of labour. In this market, labour demand is the firm's demand for labour and supply is the worker's supply of labour. The supply and demand of labour in the market is influenced by changes in the bargaining power.</p> <meta content="cms.next" name="cmsei"> </div></div><div class="clr"></div><div id="widgetSEO" class="widgetSEO"><div class="readMoreTopics seoWidget seoWidget_con clearfix"><div class="prel"><h2 class="head">Read More News on</h2><div class="nextprev-btn slider_embd"><div data-ga-onclick="Previous | href" class="prev-btn arw_blk disable flt"><span class="alft"></span></div><div class="ts-dots flt"><ul></ul></div><div data-ga-onclick="Next | href" class="next-btn arw_blk ryt flt"><span class="aryt"></span></div></div></div><div id="slides_SEO" class="overh slides clearfix"><ul><li><a href="/topic/economy">ECONOMY</a><a href="/topic/employees">EMPLOYEES</a></li></ul></div></div></div><div class="prevNextDefNames"><ul><li class="flt"><a href="/definition/invisible-hand"><div class="prevDef flt"><i class="prev"></i>PREV DEFINITION</div></a><div class="clr"></div><div id="prevDefLinks"><a href="/definition/invisible-hand">Invisible Hand</a><br><div class="synopsis">The un-observable market force that helps the demand and supply of goods in a free market to reach equilibrium automatically is the invisible hand.</div><a class="moreRead" href="/definition/invisible-hand">Read More</a></div></li><li class="flt"><a href="/definition/law-of-demand"><div class="nextDef fltr">NEXT DEFINITION<i class="next"></i></div></a><div class="clr"></div><div id="prevDefLinks"><a href="/definition/law-of-demand">Law of Demand</a><br><div class="synopsis">The law of demand states that other factors being constant (cetris peribus), price and quantity demand of any good and service are inversely related to each other.</div><a class="moreRead" href="/definition/law-of-demand">Read More</a></div></li><div class="clr"></div></ul></div><div class="related_definition"><div class="related_defHeader"><div class="head flt">Related Definitions</div><div class="FAQ_pagination fltr"><div class="flt" id="pre"><a href="javascript:void(0);"><i class="prev"></i></a></div><div class="fltr" id="post"><a href="javascript:void(0);"><i class="next"></i></a></div><div class="clr"></div></div><div class="clr"></div></div><ul><li><a class="bdbottom" title="Asset Turnover Ratio" href="/definition/asset-turnover-ratio">Asset Turnover Ratio<div class="synopsis"><p>Asset turnover ratio is the ratio between the value of a company’s sales or revenues and the value of its assets. It is an indicator of the efficiency with which a company is deploying its assets to produce the revenue. Thus, asset turnover ratio can be a determinant of a company’s performance. The higher the ratio, the better is the company’s performance. Asset turnover ratio can be different fro</p></div></a><a class="bdbottom" title="Austerity" href="/definition/austerity">Austerity<div class="synopsis"><p> economic growth of country is determined by factors such as Capital structure, Human resources, Natural resources and revenue generation of businesses operating within the nation. A decline in the economic development can impact all the four factors of a government system. One of the main contributors of decline in the economic system is debts. A country borrows money from creditors, with the vie</p></div></a><a title="Bailout" href="/definition/bailout">Bailout<div class="synopsis"><p>Bailout is a general term for extending financial support to a company or a country facing a potential bankruptcy threat. It can take the form of loans, cash, bonds, or stock purchases. A bailout may or may not require reimbursement and is often accompanied by greater government oversee and regulations. The reason for bailout is to support an industry that may be affecting millions of people in</p></div></a><a title="Balance Of Payment" href="/definition/balance-of-payment">Balance Of Payment<div class="synopsis"><p>According to the RBI, balance of payment is a statistical statement that shows 1. The transaction in goods, services and income between an economy and the rest of the world, 2. Changes of ownership and other changes in that economy’s monetary gold, special drawing rights (SDRs), and financial claims on and liabilities to the rest of the world, and 3. Unrequited transfers. Description: The tran</p></div></a></li><li><a class="bdbottom" title="Bank Rate" href="/definition/bank-rate">Bank Rate<div class="synopsis"><p>Bank rate is the rate charged by the central bank for lending funds to commercial banks. Description: Bank rates influence lending rates of commercial banks. Higher bank rate will translate to higher lending rates by the banks. In order to curb liquidity, the central bank can resort to raising the bank rate and vice versa. Also See: Base Rate, Call Money Rate </p></div></a><a class="bdbottom" title="Barter" href="/definition/barter">Barter<div class="synopsis"><p> the hard currency came into existence, the most common form of trade was bartering. Barter Systemdates back to the old time when there was no money. The only way to buy goods was to exchange them with personal belongings of similar value. For example- A farmer gives his cattle in exchange for some land, and so on. In simple words, any exchange of goods and services for other goods and services wi</p></div></a><a title="Base Rate" href="/definition/base-rate">Base Rate<div class="synopsis"><p>Base rate is the minimum rate set by the Reserve Bank of India below which banks are not allowed to lend to its customers. Description: Base rate is decided in order to enhance transparency in the credit market and ensure that banks pass on the lower cost of fund to their customers. Loan pricing will be done by adding base rate and a suitable spread depending on the credit risk premium. Als</p></div></a><a title="Basel Iii" href="/definition/basel-iii">Basel Iii<div class="synopsis"><p>The third Basel accord or Basel-III is the cornerstone of banking supervision in the world. Framed by a committee of elite central bankers, the accord provides the guidelines for prudent supervision of banks all over the world and sets the standard for such supervision. Description: Basel-III is third in the series of accords following Basel-I and Basel-II. It was released in December, 2010, in</p></div></a></li><li><a class="bdbottom" title="Brexit" href="/definition/brexit">Brexit<div class="synopsis"><p>It is an abbreviation for the term “British exit”, similar to “Grexit” that was used for many years to refer to the possibility of Greece leaving the Eurozone. Brexit refers to the possibility of Britain withdrawing from the European Union (EU). The country will hold a referendum on its EU membership on June 23. Description: Why the Call for Referendum? When David Cameron became the prime mi</p></div></a><a class="bdbottom" title="Brics" href="/definition/brics">Brics<div class="synopsis"><p> the BRICS?BRICS is an acronym that started as BRIC in 2001, coined by Jim O’Neill (a Goldman Sachs economist) for Brazil, China, India, and Russia. Later in 2010, South Africa was added to become BRICS. Goldman Sachs claimed that the global economy will be dominated by the four BRIC economies by 2050. The main reason for such a claim was that China, India, Brazil, Russia, and South Africa were ra</p></div></a></li></ul><div class="clr"></div></div><div class="clr"></div><h2 xmlns:valurl="com.times.utilities.CMSWebUtility" xmlns:listval="com.indiatimes.cms.utilities.CMSDateUtility" xmlns:java="java" class="relateHead">Related News</h2><ul class="udsgn" itemprop="itemListElement" itemscope="itemscope" itemtype="https://schema.org/ListItem"><li class="definitionStories"><img alt="Dollar slips as FX traders gird for US election outcome" class="aaimg flt" src="https://img.etimg.com/thumb/msid-114983833,width-160,height-120/markets/forex/dollar-slips-as-fx-traders-gird-for-us-election-outcome.jpg"><a class="aimg" target="_blank" href="https://economictimes.indiatimes.com/markets/forex/dollar-slips-as-fx-traders-gird-for-us-election-outcome/articleshow/114983833.cms" itemprop="url"><meta itemprop="name" content="Dollar slips as FX traders gird for US election outcome"><meta content="1" itemprop="position"><span class="title">Dollar slips as FX traders gird for US election outcome</span></a><span class="artSyn">The dollar eased on Tuesday as traders squared positions ahead of what is expected to be a close U.S. presidential election, while options volatility soared after recent polls dented some market bets on a victory for Republican Donald Trump.</span></li><li class="definitionStories"><img alt="India needs 10 million jobs annually to fuel growth: Goldman Sachs" class="aaimg flt" src="https://img.etimg.com/thumb/msid-114788272,width-160,height-120/jobs/hr-policies-trends/india-needs-10-million-jobs-annually-to-fuel-growth-goldman-sachs.jpg"><a class="aimg" target="_blank" href="https://economictimes.indiatimes.com/jobs/hr-policies-trends/india-needs-10-million-jobs-annually-to-fuel-growth-goldman-sachs/articleshow/114788272.cms" itemprop="url"><meta itemprop="name" content="India needs 10 million jobs annually to fuel growth: Goldman Sachs"><meta content="2" itemprop="position"><span class="title">India needs 10 million jobs annually to fuel growth: Goldman Sachs</span></a><span class="artSyn">India needs to add 10 million jobs yearly from 2024-25 to 2029-30 for steady growth, a Goldman Sachs report reveals. Creating jobs in agriculture and services played a significant role recently. Policies suggested include boosting social housing, expanding IT hubs, and supporting labor-intensive manufacturing. Female labor participation in rural areas is rising.</span></li><li class="definitionStories"><img alt="European stocks slip as real estate, utilities drag" class="aaimg flt" src="https://img.etimg.com/thumb/msid-114006783,width-160,height-120/markets/stocks/news/european-stocks-slip-as-real-estate-utilities-drag.jpg"><a class="aimg" target="_blank" href="https://economictimes.indiatimes.com/markets/stocks/news/european-stocks-slip-as-real-estate-utilities-drag/articleshow/114006783.cms" itemprop="url"><meta itemprop="name" content="European stocks slip as real estate, utilities drag"><meta content="3" itemprop="position"><span class="title">European stocks slip as real estate, utilities drag</span></a><span class="artSyn">European stocks slipped on Monday as the initial euphoria over strong U.S. jobs data last week faded and rate-sensitive sectors such as real estate and utilities came under pressure from higher bond yields.</span></li><li class="definitionStories"><img alt="A formalised economy transmits policy rates better: Study" class="aaimg flt" src="https://img.etimg.com/thumb/msid-113889786,width-160,height-120/markets/stocks/news/monetary-policy-more-effective-in-a-larger-formal-labour-markets-study.jpg"><a class="aimg" target="_blank" href="https://economictimes.indiatimes.com/markets/stocks/news/monetary-policy-more-effective-in-a-larger-formal-labour-markets-study/articleshow/113889786.cms" itemprop="url"><meta itemprop="name" content="A formalised economy transmits policy rates better: Study"><meta content="4" itemprop="position"><span class="title">A formalised economy transmits policy rates better: Study</span></a><span class="artSyn">Research by the RBI reveals that monetary policy transmission is more effective with increased formality in the labour market. A higher share of formal sector employment enhances the impact of policy measures on inflation and output, suggesting better outcomes under inflation targeting.</span></li><li class="definitionStories"><img alt="Monetary policy more effective in a larger formal labour markets: Study" class="aaimg flt" src="https://img.etimg.com/thumb/msid-113882399,width-160,height-120/news/economy/policy/monetary-policy-more-effective-in-a-larger-formal-labour-markets-study.jpg"><a class="aimg" target="_blank" href="https://economictimes.indiatimes.com/news/economy/policy/monetary-policy-more-effective-in-a-larger-formal-labour-markets-study/articleshow/113882399.cms" itemprop="url"><meta itemprop="name" content="Monetary policy more effective in a larger formal labour markets: Study"><meta content="5" itemprop="position"><span class="title">Monetary policy more effective in a larger formal labour markets: Study</span></a><span class="artSyn">Research by the RBI reveals that monetary policy transmission is more effective with increased formality in the labour market. A higher share of formal sector employment enhances the impact of policy measures on inflation and output, suggesting better outcomes under inflation targeting.</span></li><li class="definitionStories"><img alt="Keep up with the flux of changing jobs: Government plans to align workforce with AI and climate transition needs" class="aaimg flt" src="https://img.etimg.com/thumb/msid-113608293,width-160,height-120/opinion/et-editorial/keep-up-with-the-flux-of-changing-jobs-government-plans-to-align-workforce-with-ai-and-climate-transition-needs.jpg"><a class="aimg" target="_blank" href="https://economictimes.indiatimes.com/opinion/et-editorial/keep-up-with-the-flux-of-changing-jobs-government-plans-to-align-workforce-with-ai-and-climate-transition-needs/articleshow/113608293.cms" itemprop="url"><meta itemprop="name" content="Keep up with the flux of changing jobs: Government plans to align workforce with AI and climate transition needs"><meta content="6" itemprop="position"><span class="title">Keep up with the flux of changing jobs: Government plans to align workforce with AI and climate transition needs</span></a><span class="artSyn">The Government of India plans to map the country's skills gap by creating an index to align the labor market with trends like AI and climate transition. 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With inflation moderating and interest rates being adjusted, the US economy is expected to continue growing into 2025, providing a favourable outcome for equity markets.</span></li><li class="definitionStories"><img alt="What does Fed's rate cut mean for future of US Economy? Jahangir Aziz answers" class="aaimg flt" src="https://img.etimg.com/thumb/msid-113478465,width-160,height-120/markets/expert-view/what-does-feds-rate-cut-mean-for-future-of-us-economy-jahangir-aziz-answers.jpg"><a class="aimg" target="_blank" href="https://economictimes.indiatimes.com/markets/expert-view/what-does-feds-rate-cut-mean-for-future-of-us-economy-jahangir-aziz-answers/articleshow/113478465.cms" itemprop="url"><meta itemprop="name" content="What does Fed's rate cut mean for future of US Economy? Jahangir Aziz answers"><meta content="8" itemprop="position"><span class="title">What does Fed's rate cut mean for future of US Economy? Jahangir Aziz answers</span></a><span class="artSyn">We have a pace that is significantly faster than the Fed. But essentially the first 125, 150 basis points of rate cut is this move towards neutral. There are questions about where the neutral is. We will worry about that once we get the first set of rate cuts done.</span></li><li class="definitionStories"><img alt="Gold continues to glitter, jumps Rs 170 to Rs 73,264 per 10 gm on global cues" class="aaimg flt" src="https://img.etimg.com/thumb/msid-113463060,width-160,height-120/markets/commodities/gold-continues-to-glitter-jumps-rs-170-to-rs-73264-per-10-gm-on-global-cues.jpg"><a class="aimg" target="_blank" href="https://economictimes.indiatimes.com/markets/commodities/gold-continues-to-glitter-jumps-rs-170-to-rs-73264-per-10-gm-on-global-cues/articleshow/113463060.cms" itemprop="url"><meta itemprop="name" content="Gold continues to glitter, jumps Rs 170 to Rs 73,264 per 10 gm on global cues"><meta content="9" itemprop="position"><span class="title">Gold continues to glitter, jumps Rs 170 to Rs 73,264 per 10 gm on global cues</span></a><span class="artSyn">Gold prices continued to shine bright by rallying Rs 170 to Rs 73,264 per 10 grams on the MCX on Wednesday amid a bullish trend in the international markets ahead of the US Federal Reserve interest rate decision. In the futures trade on the Multi Commodity Exchange (MCX), gold contracts for October delivery was trading higher by Rs 170, or 0.23 per cent, at Rs 73,264 per 10 grams.</span></li><li class="definitionStories"><img alt="Gold prices surge ahead of Onam as ECB cuts rates and Fed decision looms" class="aaimg flt" src="https://img.etimg.com/thumb/msid-113322712,width-160,height-120/markets/commodities/gold-prices-surge-ahead-of-onam-amid-ecb-rate-cut-fed-decision-looms.jpg"><a class="aimg" target="_blank" href="https://economictimes.indiatimes.com/markets/commodities/gold-prices-surge-ahead-of-onam-amid-ecb-rate-cut-fed-decision-looms/articleshow/113322712.cms" itemprop="url"><meta itemprop="name" content="Gold prices surge ahead of Onam as ECB cuts rates and Fed decision looms"><meta content="10" itemprop="position"><span class="title">Gold prices surge ahead of Onam as ECB cuts rates and Fed decision looms</span></a><span class="artSyn">Gold has become precious ahead of Onam, a festival celebrated in Kerala which falls on September 15. 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