Question

In two or three sentences describe the labor market

Answer 1

I think the labor market is the nominal market in which workers find paying work, employers find willing workers, and wage rates are determined. 

Answer 2

The labor market is the environment in which all the work activities of citizens of a country or region are concentrated. This is where workers - labor providers - and entrepreneurs - labor demanders - negotiate contracts and pay for work.

The labor market has evolved over time, along with globalization, and has become a flexible and adaptable environment to changing economic reality. Currently, US labor market data is the best in the last 60 years, with low unemployment rates.