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If the correlation coefficient (r) = 1.00, then
Primary Labor Market
The segment of the labor market characterized by high-skilled, high-wage jobs with good working conditions and benefits.
Secondary Labor Market
Describes jobs characterized by lower pay, less job security, and fewer benefits compared to the primary labor market, often including part-time or temporary positions.
Legal Minimum Wage
The lowest hourly rate that employers can legally pay their workers, as mandated by government law.
Employment
The condition of having paid work or owning a business that generates regular income.
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