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Labour Market Key Terms

Key Terms our students need to know... 

Key Terms 


Curriculum Vitae (CV)

A document used to communicate your skills, qualifications and experience to potential employers. 


A relationship between two parties (an employer and an employee) An employee gives up their time to do a job in exchange for money. You can also be self employed this is when you earn money without an employer. 

Labour Market

The world of work is like a marketplace. Employers are buying employees and employees and selling their time and labour. 


This describes a type of job or series of closely related jobs. 


The process of finding employees to fill vacancies 


A regular payment made to someone for the work that they do. 


The type of organisation you work for . 


Economists look at what happens in the past to make a guess about what might happen in the future. 


This term describes anything that an individual does which takes their time and energy. This is different from employment as we are not always paid for work.