Labour Market, the most supplier-unfriendly market

Labour market is the most brutal market for the suppliers, the workers. In a labour market, workers are supplying their workforce to companies. However, due to imperfect effort inspection, the companies tend to keep the market at a level of oversupply in order to push workers to work harder. Because of the oversupply of labours, there are also some people out there who are looking for jobs. When someone is out of employment for two years, he or she would be considered as unemployable. In addition, in a labour market, firms have mutual interests; but workers do not have mutual interests, as finding a job is a zero sum game, as one wins the job position, all the other competitors lose the position. Therefore, the firms can cooperate with each other to keep salaries low; however, some worker may use low wage requests as their sale points, leading to a further decrease in wage levels. To conclude, labour market is a market that the power of demanders dominates the power of suppliers, and some skilled workers lose their skills due to the increased level of competition caused by the firms.