What is Job market: Definition and 54 Discussions

Labour economics seeks to understand the functioning and dynamics of the markets for wage labour. Labour is a commodity that is supplied by labourers in exchange for a wage paid by demanding firms. Because these labourers exist as parts of a social, institutional, or political system, labour economics is often regarded as a sociology or political science.Labour markets or job markets function through the interaction of workers and employers. Labour economics looks at the suppliers of labour services (workers) and the demanders of labour services (employers), and attempts to understand the resulting pattern of wages, employment, and income. These patterns exist because each individual in the market is presumed to make rational choices based on the information that they know regarding wage, desire to provide labour, and desire for leisure. Labour markets are normally geographically bounded, but the rise of the internet has brought about a 'planetary labour market' in some sectors.Labour is a measure of the work done by human beings. It is conventionally contrasted with other factors of production, such as land and capital. Some theories focus on human capital, or entrepreneurship, (which refers to the skills that workers possess and not necessarily the actual work that they produce). Labour is unique to study because it is a special type of good that cannot be separated from the owner (i.e. the work cannot be separated from the person who does it). A labour market is also different from other markets in that workers are the suppliers and firms are the demanders.

View More On Wikipedia.org
Recent contents Top users
  1. R

    Physics Is the Job Market for Geophysics in Canada Uncertain Due to the Pandemic?

    Hi all. This is my first post in the physics forum! My name is Raymond. I have recently graduated with a double major in Physics and Geophysics in Canada. My initial goal was to pursue Exploration Geophysics/Hydrology in grad school ( University of Toronto/UBC/University of Calgary) and go to...
  2. Z

    Other Recent Grad with Job market Questions

    Hello, I recently graduated from my university with a B.S in Astrophysics, and a minor in Mathematics. Through my undergrad I have done undergraduate research on pulsars, and even developed and coded an app to help catalog and database pulsar candidates, with the help of graduate students and a...
  3. E

    Job Skills Leaving a 2nd Master's degree to accept an offer abroad

    This is my first post so don't be too harsh. I was just looking to get additional opinions in order to make a more informed decision. Since I always had the idea of becoming an astrophysicist I enrolled in Bsc in physics engineering (5 years) here, and due to being the top student I was invited...
  4. Ahmed Abdalla

    Job Skills I finally got my bachelor's degree in physics, now what?

    It's been 3 months so I'm sure this is still very early to "give up" on the job search, but I was wondering how other people did after their BS/BA in physics from college! The job search is for sure hard and I realized a little too late that I lacked some experience in CS. I wasn't planning on...
  5. W

    Physics Career options for a physicist (MSc)

    Hi PF, I graduated (MSc) six months ago with a 3.7/4.0 GPA and is still unemployed. During my time at university, I focused on my studies and did not give my future work life much thought. Consequently, I do not really know what my options are as a physicist. Sure, after reading countless job...
  6. S

    Other I started PhD abroad, but would like to get a job

    Greetings, I recently started a PhD in Belgium after resigning from my current job (IT branch) in my home country, Turkey. It was a global company and I had been working there for around 8 months when I resigned. I realized that what I want is a solid job as soon as possible and now I am in the...
  7. M

    Engineering How age and experience matter when getting a job?

    I'm 31 years old & going to enter into 2nd year of BEng mech. Degree which has 3 years.I already have diploma in marine engineering & have sailed on ocen going ships for 1 year as junior engineer.Is the first is better? (1.Is 1 year experience on ships can relate to mechanical experience...
  8. A

    Physics Starting my PhD in cosmology -- question about my career prospects

    Hello all,Next year, January I will start my PhD in Cosmology. Salary is fair and I don't have to pay the tuition fee. I always loved the idea of doing a thesis about Cosmology. My master's degree was about computational physics where I had to learn how to program in C/C++, Fortran, Matlab...
  9. T

    Job Skills Job Market for different EE fields

    Hey guys, Iam new to Physics Forums. Iam doing my Masters with Major in Electrical Engineering. My core is Digital Signal Processing as of now and my GPA is somewhat good for atleast entering PhD program. I do have ideas for a PhD but I do have some financial commitments. So, I postponed this...
  10. M

    Schools Which field of study has the highest professor employment?

    Hi, I was wondering what stem field has the greatest likely hood to employ one as a professor at a university. I am deciding between mathematics, physics and computer science. My father is a professor in computer science but I am not entirely sure which field I want to become a professor in(or...
  11. Pi Pie

    Math Maximizing Employability with a Master's Degree After 30

    Hi, everyone. Here I am, once again, full of uncertainty as for my future. I've previously stated my situation in another thread so this time I'm going straight to the point. If all ends meet I'll be acquiring my Master's degree in applied and computational mathematics at the age of 32...
  12. P

    Physics Finance Job Market for Astronomy Ph.D.?

    I am currently applying to Astronomy, Astrophysics, and Physics Ph.D. programs. I am doing a Ph.D. because I can't wait to learn more about cosmology and to computationally model galaxies, but I understand that jobs as professors are rare. Looking at backup plans, I've heard that some academic...
  13. B

    Programs Want to study physics, but pressured towards engineering

    I really want to study physics and math, but my family is pressuring me towards engineering. They say that physics job market is nonexistent, that I'll be homeless, that studying engineering is more lucrative, and that you can transfer to physics more easily. And that job employers will always...
  14. rfranceschetti

    Engineering Job market for engineer physicists

    Hi all, Could you guys tell me how's the job market* for engineer physicists and engineer scientists? These majors seem very nice in terms of the range of the coursework, seeing many different parts of physics and chemistry. However, I'm quite skeptic about their career prospects. I see...
  15. Harshna

    Jobs in Physics/Mathematics that Actually do Calculus

    Hi, I am finding it a bit difficult to find a job where pure maths is actually done and looking for some ideas or examples from people who have done this please. I am in my last semester of a Graduate Diploma of Science (Applied Data Science) and am considering what to study for my Masters/pHD...
  16. MRrelativity

    Engineering How well is the nuclear engineering job market doing?

    Hello, my name is Samuel. I am a sophomore at Missouri S&T, I just switched my major from physics to Nuclear engineering. I am looking to get my degree in nuclear engineering and then work in the industry for a little bit before going to grad school and working on reactor design. I'm sorry if...
  17. kuan9611

    Engineering Engineering Enrollment Statistics - Thoughts?

    Hi all! I'm an undergrad sophomore in engineering trying to decide on which major to pursue (namely civil/mechanical). Recently I came across this fascinating piece of publication, which contained a massive amount of data regarding engineering enrollments by major, demographic, and school...
  18. cdsandstuff

    Programs What makes plasma physics an appealing field of study?

    Hey everyone! I know you probably see new messages like this pop up quite a bit, but I am legitimately curious on this one. I have seen a few threads on the subject as in how to get into the field. I was personally wondering: Why should one study plasma physics? What kind of questions does it...
  19. S

    Job Skills The Shrinking Ph.D. Job Market

    A new study from the journal Inside Higher Ed shows that it's more difficult to get a job with an advanced degree: https://www.insidehighered.com/news/2016/04/04/new-data-show-tightening-phd-job-market-across-disciplines
  20. T

    Medical Physics Shadowing at UAB

    Greetings Physics Forums, It has been a while since I last contributed to these forums. However, I had the opportunity to job shadow some of the Medical Physicists at U.A.B. yesterday and I thought I would pass on what I learned to prospective Medical Physics students. First off, shadowing was...
  21. G

    Physics Is Theoretical Physics a Viable Career Path in Academia?

    Hi everyone, I'm just starting my first year in undergrad and I've started to think a bit more about job prospects in physics. More specifically, the possibility of going into academia to work on theory, maybe HEP or condensed matter, maybe materials science. The thing is, almost everything I've...
  22. vinicius0197

    Engineering Job Market for Control Engineers?

    I've been giving a look at some of the electives in my college - I'm a student of MechE - and became interested in Control Systems, specially after I borrowed some books in the subject in the library and read a little bit more about it. I wonder how big is the field of application of this...
  23. S

    Exploring the Astrophysics Job Market: Passion vs Practicality

    Hi I am an undergraduate freshman at university. I have a passion for Astronomy and would love to become a professional astronomer. The only problem is I've heard by many people including a Professor of Physics that the job market is tough and it's hard to find jobs in Astrophysics. Should I...
  24. C

    Cronyism and Nepotism in Job Market

    I would like to know people's experiences in how they were able to gain employment (see poll). Any thoughts or comments people might have are openly welcomed. I ask because I am a recent MecE grad. I graduated top of my class from a strong program. Right now the economy is not great for MecE...
  25. H

    Medical Physics Job Market and Future Outlook

    Hello Everyone, I hope that you all are well, I'm a new user here at Physics Forums and one who plans on studying medical physics in graduate school, and hopes to pursue a residency. My question is regarding the job market for those medical physicists who have been able to complete a medical...
  26. PhysixChick

    Physics What is the true value of a career in physics compared to engineering?

    I'm an undergrad physics major, and I constantly hear from peers and outside sources that physics majors have eight years of schooling, and get paid like dang, and that it's hard to find a job as a research physicist (that's what I want to do). I'm wondering why people say this though, because I...
  27. A

    What's the job market like in computational science?

    I was just looking at graduate programs in computational science. I understand that it's a broad term that encompasses a wide variety of fields. Right now I'm an undergraduate in electrical engineering, and I plan on going to graduate school. The computational science programs caught my eye...
  28. O

    Physics Job Market for Physicists in a Decade

    Hey everybody reading, this is my second thread! I must say this is a great website, I've read posts on it for help with some physics questions I've had in the Grade 12 physics course I am taking. Just two weeks ago, I applied to universities in Ontario, more specifically Laurentian University...
  29. E

    Engineering Job Positions for US Engineering Job Market for VLSI Design Focus Grad

    I have no clue about the engineering job market as I'm in IT, he's looking for guidance. What kind of job positions would he be eligible for in US and which state(s) is the best for this field? I have attached the undergrad curriculum. He did his Masters with VLSI design focus. His Masters...
  30. S

    Job Market for Applied Physics?

    How's the current job market for Applied Physics? Anyone with an applied physics degree(BS, MS, PhD) on here want to comment? It seems from reading some of the posts in this sub-forum that the overall job market for pure physics or mathematics isn't very good and people are having to apply to...
  31. P

    Physics Will the job market still be favorable for geophysicists in O &G

    Especially in the state of Texas. The plan for me is to finish my undergrad here at UCSD (I'm a physics major) and go to grad school. The oil & gas industry will remain strong for a long time, right ? I believe geophysicists are in high demand . One of my physics professor told it's one of the...
  32. L

    What are the job prospects for a medical physics graduate in California?

    I am a senior physics major. I am going to be applying to some grad schools over these next few months but it has me thinking that I really have only a few ideas about what i want out of school. I am so far going to be applying for an ms in medical physics at san diego state (CAMPEP certified)...
  33. H

    Future Job Market: Engineers & Computer Scientists: Debate & Solutions

    What do you guys believe the future will bring for engineers and computer scientists in general? What specialization do you think offers the most safety in terms of job security? How about this claim, there is a purported shortage of STEM graduates but this is false and that this is...
  34. M

    Physics What are the Job Opportunities for a Theoretical Physics Degree Holder?

    Im considering a career in Theoretical Physics. In terms of jobs what opportunities would I have after my Bachelors , my Masters and then after my PHD. What is the most typical pattern followed by most people going into physics? Job after Masters or before it? and what is the future like for...
  35. L

    On leave from academia and in preparation for the job market

    Hi, I am a student in physics who completed his masters (5 years degree) in physics (fundamental and theoretical physics) and didn't have any success in finding a PhD position since then. I am still waiting for an answer from my last opportunity in entering a PhD by next fall, but my history...
  36. S

    Schools Graduate School Reputation & Industry Job Market for Physics PhD

    (I've been reading PF for years now, and decided I should finally contribute. Unfortunately, my first significant post is a question, but I hope that will change in the near future!) I'm graduating in May with a double major in Physics and Mathematics, and I have a couple offer for graduate...
  37. V

    What are my job options with a statistical degree and no finance background?

    Hi everyone, Help me please to understand what to do - I'm really confused. Sorry for maybe stupid questions - I just don't know where to go to find out this information... A bit about myself. I live in Canada (Ontario) and now I'm doing my Masters in Stats. I have good mathematical...
  38. S

    Engineering Job market for software engineers for the next few decades?

    Hello dear members, I am a college freshman majoring in undeclared major. (:P) I have strong passion for music and mathematics, but I think I will have a hard time finding a decent job if I combine those two. So as of now I am thinking of majoring music and computer science. I hear that the...
  39. C

    Physics Why do some think that the job market for physics majors is terrible?

    I constantly (as in, on every post where the subject of employment comes up) hear people speaking with intense pessimism on the topic of employment. They act like physics is one of the worst fields in which to purse a major for either job stability or average annual salary. From a purely...
  40. D

    Current and prospective job market for EE

    I graduated from university in the liberal arts a few years ago, and oddly enough fell in LOVE with electricity and everything about it since. Whether it's in the application of designing computer chips and circuits, to power stations and energy systems, I have made the decision to go back to...
  41. A

    Is the Job Market Getting *WORSE* for PhDs?

    A lot of my friends in defense have been telling me that programs have either been cut harshly or been told they're on the same operating budget. Seeing as defense seems to be one of the largest areas we go into, this is very unsettling. Private companies seem to be about the same as far as...
  42. M

    Is Prestige the Key to Success in the Physics Job Market?

    As we all know, the job market for physicists is abysmal. but just how bad is it? and what role does the prestige of the university you attended play? Will someone who earned their Ph. D from MIT or Harvard have a much easier time getting a post-doc, than say, someone who went to Virginia Tech...
  43. C

    Physics What the oil and gas job market says for a new geophysics grad.

    Hi everyone, does anyone know what the typical job market is like for recent graduates in the geophysics field. I mean given the price of oil and the global financial crisis does one even stand a chance. I like to hear from some of you who are in the geoscience field as well. I know Alberta...
  44. G

    Is the Job Market for Physicists Better Outside of America?

    I'm fully aware after having read through various forums and articles online by people who know what they are talking about that the job market for physicists, at least in America, is awful. Most grad students nowadays end up spending 5-10 years doing post-doctoral work, and when they finally...
  45. M

    Physics The Ph.D. degree is a handicap in the job market for clinical medical physicists

    See another note on Medical Physics. The Ph.D. degree is a handicap in the job market for clinical medical physicists Med. Phys. Volume 27, Issue 12, pp. 2641-2643 (December 2000)
  46. P

    Aerospace Engineers: Boom and Bust Job Market?

    I think being an aerospace engineer would be really interesting, but my dad says it's a "boom and bust" industry. The Bureau of Labor Statistics' website also says that aerospace engineers are subject to layoffs. I noticed that another user, thucydides, asked this question but no one has...
  47. P

    Recent college grad question about job market

    I'm a recent college graduate with a B.S. in electrical engineering and another B.S. (in june) in computer engineering. I've noticed in a lot of my searches that: software is the big thing in demand beyond all else, and below that companies want hardware people who will write software. I've been...
  48. G

    US Job market outlook for EE/CE?

    Hello, I'm halfway through my undergrad program in EE (I've also been taking the necessary courses for a CE concentration, but have no yet declared it). I was wondering if anyone out there could give me an idea of what the job market for EE (and CE) looks like in the US at this moment, and...
  49. A

    Type of Jobs and Job Market for 8-9 years of studying .Pleasee help.

    Here in my country there is a 5 year licenciate after that you take 3-4 years master degree. I would like to know the type of jobs and opportunities after 9-8 years of studying. I am starting university in 1 year. Please help.
  50. J

    Is the job market good for astro physic majors or general physic majors?

    I am considering changing my major to Philosophy and Physics with a astrophysics minor, since my school doesn't offer astronomy and astrophysics as a major. My current major is biotechnology. I was reading some article that was a little scary, it is about how the job market for physicist isn't...
Back
Top