Importance of the Labor Market

Since the consolidation of the Industrial Revolution and its socioeconomic effects in a large part of the planet, a concept has appeared on the scene, perhaps non-existent until the moment that was built from the reality that that revolution was developing. We are talking about the idea of ​​the labor market, a space where all human forces understood as labour they meet with the job opportunities offered by those who own the goods of production.

Emergence of the concept of labor market: a true revolution

Beyond the enormous economic effects brought about by a process as complex and profound as the Industrial Revolution, we must refer here to the one that interests us in relation to the concept of job. While earlier in the history man and woman had always been masters of what was produced to a greater or lesser extent measure, this made them have a more concrete contact both with the product and with the work itself same.

With the Revolution of the 18th century, one of the main changes was the one that established that the workers in the factories were no longer owners of what they produced but were only possessors of human strength and time to be used carrying out an activity in particular. This caused work to become dehumanized and depersonalized, the worker losing the notion of his contribution to the total economy and becoming easily into a waste variable since those who own the producer goods will thereafter determine the value of labor in the form of salary.

But what really is the labor market?

By labor market we understand that abstract space where adult human beings, capable of carrying out an activity, place themselves offering their strength, their time and their operability or knowledge. In that same space is where employers or owners place the labor needs that they have to cover and thus connect those people they consider most suitable for the position.

The job market today

At present, labor markets are easily a study variable since elements such as training and preparation of workers, level of awareness about their rights, labor supply and demand, unemployment and employment, etc.

In this way, while a society is in an economic crisis, one of the first spaces in which it affects is in the labor market and this is Visible because jobs are lost, the value of work decreases, workers increase in proportion to demand, the jobs offered are in poor condition, etc In itself, the labor market is a social phenomenon to which States must pay special attention. attention to ensure a good quality of life for the inhabitants of a territory.

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