The Labor Market and Employment (Handbook article). The labor market differs from typical markets in important ways. We … find job competition and collective mechanisms that set wages and working conditions. Changes in employment bring about … changes in wages and prices and entail political and monetary responses. The goals of price stability and full employment …

economic growth no longer has any effect on employment ("jobless growth"), and second, that the "equilibrium" rate of … unemployment, i.e. the rate of employment that prevails even in favourable economic conditions, is on an increasing trend. This … anxieties. As far as the relationship between the growth of GDP and employment is concerned, the conclusion is, that it remains …

the market-clearing level must reduce employment. Empirical findings suggest, however, that this might not always be the … competitive labour market with friction. -- minimum wage and employment ; minimum wage paradox ; friction and search in the labour …