Labour market

"A system consisting of employers as buyers and workers as sellers, the purpose of which is to match job vacancies with job applicants and to set wages."
(International Labour Organization (ILO), Labour market, Thesaurus, 2005, visited 2010-07-16)

The concept of a labour market has been criticized by labour sociologists because this "market" is not regulated by the same principles as other markets, such as a capital market, or a commodities market.