What is the meaning of the word "labor pool"?
It plays a crucial role in shaping employment opportunities, wages, and economic growth.
Definitions:
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Refers to individuals who are available for work. NOUN
- The labor pool in rural areas may be smaller, making it more challenging for employers to find workers with specific skills.
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Refers to the supply of available workers who are qualified and capable of performing various jobs within a specific industry, region, or organization. NOUN
- The company chose to open its new factory in he city because of the large and skilled labor pool available in the region.
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Represents the collective group of potental employees from which employers can draw when they need to hire workers. NOUN
- With the expansion of the tech industry, the labor pool for software developers has become increasingly competitive.