what is the job market 
the job market is the market in which employers search for employees and employees search for jobs the job market is not a physical place as much as a concept demonstrating the competition and interplay between different labor forces it is also known as the labor market the job market can grow or shrink depending on the demand for labor and the available supply of workers within the overall economy other factors which impact the market are the needs of a specific industry the need for a particular education level or skill set and required job functions the job market is a significant component of any economy and is directly tied in with the demand for goods and services the job market and the unemployment ratethe job market is also directly related to the unemployment rate the unemployment rate is the percentage of people in the labor force who are not currently employed but actively seeking a job the higher the unemployment rate the greater the supply of labor in the overall job market 