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Teaching employees about the value of their benefits can best give employers an advantage in the labor market
The labor market or job market is a place where the supply and demand for employees collide. It helps in developing a skilled workforce that thrives in an environment of competition, advancement, and economic growth. The labor market graph is also useful for understanding its definition and learning if job markets are tight or balanced.
Employers can assess the amount and quality of the labor they need to hire by using the labor market. Additionally, it gives workers the right to request a competitive compensation package. Workforce involvement, candidate population, candidate pool, and recruited individuals are its four components.
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