Overview
Labor market segmentation is a crucial concept in understanding how different groups of workers experience varying job conditions and wages. It divides the labor market into primary and secondary segments, each with distinct characteristics that affect job security and wage levels. The primary labor...
Key Terms
Example: The labor market includes all jobs available in a region.
Example: Labor market segmentation can be based on skills or job types.
Example: Positions in large corporations often fall into the primary labor market.
Example: Many part-time or temporary jobs are in the secondary labor market.
Example: Wage differentials can be seen between skilled and unskilled labor.
Example: Workers in the primary labor market usually have higher job security.