CALENDAR

SU M TU W TH FR SA VENUS
Venus has a beautiful name
N ON E ED U I T and is the second planet
from the Sun
01 02 03 04

05 06 07 08 09 10 11

12 13 14 15 16 17 18 MARS
Despite being red, Mars is
19 20 21 22 23 24 25 a cold place. It’s full of
iron oxide dust
26 27 28 29 30
LABOU
R
MARK
ET
The place where the supply and the
demand for jobs meet
 What is the Labor Market?
- The labor market is the place where the supply and the demand for jobs meet, with the
workers or labor providing the services that employers demand.
-  The worker may be anyone who wishes to offer his services for compensation, while the
employer may be a single entity or an organization that is in need of an individual to do
a specific job or to complete a task.
- The worker is then comparable to a seller while the employer is the buyer.
 What is the Labor Market?
- A common factor that connects the two entities is the salary or wage that is agreed to
be received by the worker from the employer. In short, this is where workers can find
work that suits their skills and qualifications and where both agree on the wages, 
benefits, and other forms of compensation for the worker.
 What is the Labour Market?
● In the labor market, it is assumed that workers move to where there is a
demand for their skills, whether this is in their local region or abroad.
Moreover, they are also replaceable, which means that a person who can
do the job better can be tapped to take over the other worker’s job.
Furthermore, salaries are not fixed, meaning they can go up or down,
depending on the worker’s performance. Wages or compensation is the
highest motivating factor in the labor market.
 Components of Labor Market
1. 2
Labor force population Applicant population
Number of individuals people who are applying for a
who are available to particular job that suits their
work in a labor market expertise and skills

3 4
Applicant pool Individual selected
 number of people who initially the individual or individuals who’ve
signified their interest in applying for a made it through the screening
particular job by sending in their process and have been hired for the
resume.  job.
 Understanding
Labor Market
Analysis
Labor market analysis is an integral part of an
organization’s recruitment process because it
not only helps it find the most qualified
workers for the jobs that it offers but also
ensures that it provides a competitive
compensation package to its workers.
Generally speaking, labor market analysis involves the following processes:

Identifying the various labor markets for a

given type of position.

-  It involves looking at the

appropriate labor market based on
a specific position.
Generally speaking, labor market analysis involves the following processes:

Checking the market for salaries for

a common position.
- The process involves checking
similar positions in the labor market
in order to determine if an
organization’s salary rates are at
about the same level.
Generally speaking, labor market analysis involves the following processes:

Determining market trends.

- This step answers questions as
to how other organizations are
compensating their workers,
including their pay practices.
Generally speaking, labor market analysis involves the following processes:

Adjusting salary packages or

structure of positions.
 - After checking the salary rates of
other organizations and finding out
if there is any need for
adjustments, the department then
makes recommendations for such
adjustments and restructuring of
positions in the company.
Generally speaking, labor market analysis involves the following processes:

Making consultations with

management.
- This process involves sitting
down with management to
determine their workforce
needs.
 How to increase labour market flexibility?

Reduce minimum wages

A high minimum wage may discourage firms
from taking on new workers – especially young
workers who have less job experience.
 How to increase labour market flexibility?

Reduce the power of trade unions.

Trade unions have the ability to go on

strike to campaign for higher wages and
can also put pressure on a firm to avoid
redundancies. Reducing the power of trade
unions will give the firm greater flexibility
to hire and fire workers and set market
clearing wages.
 How to increase labour market flexibility?

Improve information for workers

and firms.
Helping to provide better information
about job vacancies and which workers are
skilled in the job will help labour markets
function more effectively.
 How to increase labour market flexibility?

Better education and training.

The government can fund skills

training to help low-skilled workers
become more employable in a fast-
changing job market. This will
enable workers to be more skilled
and will help to reduce immobility’s
in the labour market.
 How to increase labour market flexibility?

Make it easier to hire and fire workers.

For example, remove

regulations which require
workers to be given notice or
generous redundancy
packages.
 How to increase labour market flexibility?

Support in legislation, zero-

hour contracts which enable
firms to choose how much to
employ workers
 How to increase labour market flexibility?

Improve child care facilities to

encourage women to work. This could be
quite a significant policy to give women
the opportunity to work, in addition to
looking after a family.
Working parents are often looking for
flexible work, such as part-time hours,
flexible hours and the option to work
from home.
 What is Labor Market Information (LMI)?

Labor Market Information (LMI) is basically everything there is to

know about a specific labor market. Information about
occupations, their locations, wages, supply and demand, and 
demographics are all included in the LMI.
How is the LMI helpful?
The LMI is very helpful for people who are looking at getting a job that is
sustainable. A worker who looks at the LMI enjoys a higher chance of
getting recruited because he or she knows what industries or jobs are
exactly looking for.
For example, an individual who finds out that the hospitality industry is
looking to hire 1,000 food and beverage specialists over the next two
years decides to take up training and short courses on the subject. By the
time he applies for the job some six months later, his chances of getting
recruited are definitely higher than that of the person with lesser
credentials. It further means that he will receive a better compensation
package than the rest precisely for the qualifications and certificates that
he holds.
In summary, LMI helps a worker identify the demands of the labor market
and helps him be equipped with the right qualifications.
• 15 Online Job Sites in the Philippines for Job Hunti
ng During the Pandemic
• 1. JobStreet 
• 2. Kalibrr
• 3. Indeed
• 4. LinkedIn
• 5. Boss job
• 6. Workabroad.ph
• 7. Online Jobs
• 8. Careerjet
• 9. Monster
• 10. Freelancer
• 11. RareJob PH
• 12. 51Talk PH
• 13. Fiverr
• 14. Upwork
• 15. Facebook
 Did you know ?

 
Philippines
6.4%  Population
(as
112,149,444
58.9 %
of 4/6/2022) 43.02 million, up from
2.93 million, down
41.25 million the year
from 3.96 million before
in January 2021

UNEMPLOYED EMPLOYED
THANK YOU 
 OUR TEAM

SOFIA HILL JOHN JAMES

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