Examlex
Which of the following statements uses the most formal language?
Labor Surplus
A situation in the labor market where the supply of labor exceeds the demand for labor, often leading to unemployment or decreased wages.
Reduced Work Hours
An employment arrangement where the number of hours worked is less than the standard full-time schedule, often to promote work-life balance.
Demotions
The action of lowering someone's rank or position, often as a disciplinary measure or due to organizational restructuring.
Phased-Retirement Programs
Programs that allow employees to gradually reduce their working hours as they transition into retirement.
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