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The labor market, also known as the job market, refers to the supply and demand for labor in which employees provide the supply and employers the demand. It is a major component of any economy and is intricately tied in with markets for capital, goods and services.

The Job Market is known as labor market. The employer hire skilled or unskilled labor or worker as per his industry requirement.

What is Labor?

The labor is hired by employer according to his skill and experience. The employer hire worker basis on type or nature of work he would perfrom like to work for certain hours which is hourly basis and unit or pieces basis means worker will be paid number or unit or pieces he produced.

The payment method is usually on daily basis, forthnightly or monthly basis.

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Learn more about labor https://brainly.com/question/26564635

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