What is the meaning of the word "labor pool"?

Definitions:

  1. Refers to individuals who are available for work. copy to clipboard NOUN
    • The labor pool in rural areas may be smaller, making it more challenging for employers to find workers with specific skills. copy to clipboard
  2. Refers to the supply of available workers who are qualified and capable of performing various jobs within a specific industry, region, or organization. copy to clipboard NOUN
    • The company chose to open its new factory in he city because of the large and skilled labor pool available in the region. copy to clipboard
  3. Represents the collective group of potental employees from which employers can draw when they need to hire workers. copy to clipboard NOUN
    • With the expansion of the tech industry, the labor pool for software developers has become increasingly competitive. copy to clipboard

Synonyms: