The labour market
Introduction to chapter 9.
On the labour market, as in all markets, supply and demand come together. The price created on the labour market is the wage. The labour market consists of many different market segments. Each sector, branch of industry or profession has its own labour market. The market for plumbers is another one than the market for nurses. The market for plasterers is another one again than the market for accountants.
These market segments are separated from each other. A jobless construction worker cannot just start to teach pupils, nor will you easily find a professor behind a cash register in a supermarket.
Who are the suppliers on the labour market? According to the definition used by the CBS they are all the people who have or seek paid jobs for more than 12 hours per week. Consumers on the labour market are enterprises and organisations such as construction firms, educational institutions and hospitals that have or want to have people in paid employment for more than 12 hours per week.