Labor markets are interconnected from "summary" of Labor in the Age of Finance by Sanford M. Jacoby
Labor markets are not isolated entities but rather are deeply interconnected with each other. This interconnectedness arises from the fact that labor markets are not confined within national borders but are influenced by global forces and trends. Changes in one labor market can have ripple effects on other labor markets, both domestically and internationally. For example, advancements in technology in one country can lead to job displacement in another country as companies seek to outsource labor to lower-cost regions. This interconnectedness is further heightened by the rise of multinational corporations that operate across multiple countries and can shift production and employment based on market conditions and labor costs. Furthermore, fluctuations in cu...
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