Jobs Growth

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Definition of 'Jobs Growth'

Jobs growth is the increase in the number of jobs available in a particular economy. It is typically measured as the change in the unemployment rate, which is the percentage of people who are actively looking for work but cannot find it.

Jobs growth is an important indicator of economic health, as it suggests that there is demand for labor and that businesses are expanding. However, it is important to note that jobs growth does not necessarily translate to higher wages or improved living standards for workers. In some cases, jobs growth can be accompanied by rising inequality, as new jobs are created in low-wage sectors of the economy.

There are a number of factors that can contribute to jobs growth, including economic growth, government policies, and technological change. Economic growth creates demand for goods and services, which leads to job creation. Government policies can also affect jobs growth, such as through tax incentives for businesses or investments in infrastructure. Technological change can also create new jobs, as new technologies require new skills and workers.

Jobs growth is an important goal for most economies, as it can help to improve economic prosperity and reduce poverty. However, it is important to understand the factors that contribute to jobs growth and to ensure that policies are in place to support sustainable jobs growth.

In addition to the factors mentioned above, there are a number of other factors that can affect jobs growth, including:

* The business cycle: Jobs growth tends to be stronger during economic expansions and weaker during recessions.
* The demographics of the workforce: The size and age of the workforce can affect the demand for jobs.
* The level of education and skills of the workforce: Workers with higher levels of education and skills are more likely to be employed.
* The minimum wage: The minimum wage can affect the number of jobs available, as it can make it more difficult for businesses to hire low-wage workers.
* Labor market regulations: Labor market regulations can affect the ease with which businesses can hire and fire workers.
* Trade policies: Trade policies can affect the number of jobs available in a particular economy, as they can affect the flow of goods and services between countries.

Jobs growth is a complex issue with a number of factors that can affect it. By understanding these factors, policymakers can develop policies that support sustainable jobs growth.

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