Range of regulations, principles, legislation and activities implemented by governments to influence the operation of the labour market and its outcomes and correct its imbalances.
Comment
- Labour market policy covers industrial relations, wage setting regulations, education and training, and programmes to assist unemployed and economically inactive people in accessing the labour market;
- it can be distinguished from other general employment policy measures in acting selectively to favour particular groups in the labour market;
- this term is close to, but not synonymous with: employment policy.
Source
Based on Eurofound, 2021a; Eurostat.