Whether a labor market is tight or loose has a major impact on wage structures and levels.

Name: Whether a labor market is tight or loose has a major impact on wage structures and levels.
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A tight labor market, where there are more job openings than available workers, tends to result in higher wages as employers compete for workers. In contrast, a loose labor market, where there are more available workers than job openings, can result in lower wages as workers may accept lower pay to secure employment.

Whether a Labor Market Is Tight or Loose Has a Major