Examlex
In Situational Leadership
Secondary Labor Market
Refers to segment of the labor market characterized by low pay, poor job security, and limited career prospects, often involving part-time or temporary work.
Primary Labor Market
Refers to sectors that offer high wages, good benefits, and stable employment, contrasting with the secondary labor market.
Semiskilled Labor
Workforce individuals possessing some training and skills but less than that required for skilled labor, often involving manual or repetitive tasks.
Backward-Bending
Refers to the portion of a labor supply curve that bends backward at higher wage levels, indicating a decrease in labor supply as wages increase beyond a certain point.
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