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Attempts were made in the 1600s to make the English colonies more profitable by passing the
Labor Market
Refers to the economic space where workers offer their services and employers seek to hire labor, characterized by the negotiation of wages, hours, and working conditions.
Unemployment
A measure of the number of people who are actively looking for work but are not currently employed.
Firms Lay Off
The process by which companies reduce their workforce in response to business conditions, such as decreased demand or economic downturns.
Minimum Wage
The lowest legal hourly pay that employers can pay workers, set by government law.
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