Labor markets

Junior (College 3rd year) ・Management ・APA ・4 Sources

Due to the absence of mandatory vacation policies and the existence of employer-friendly labor laws, free labor markets are popular in the US. There is a defined minimum pay that is less than the market wage, and there is equality, which contributes to America having the freest labor markets in the world. France and other European nations like it do not have free labor markets since employees are required to take about 25 days off year, the workforce is unionized, there is no room for innovation, and this results in unemployment (Forbes, 2003).

Market Class

As many businesses operate under the employment at will laws, whereby employees can be fired or hired at any time, rules whereby employees can be discharged or quit at will for any reason due to absence of contractual restrictions. The employees in the free labor market are usually not covered by unions examples of such organizations are such as Wal-Mart and Starbucks (Budd, 2017).

Pros and Cons of Free Labor Market


Some of the advantages associated with free labor market are such as the markets have diverse workers from different backgrounds coming from different part of the world thus enhancing innovation. The unemployment rate associated with free labor market is low therefore there are many job opportunities for the people (Krinsky, 2007). Free labor market promotes many small businesses to spring up as there is a ready taskforce for engaging in the firm's activities to bring development.


The free labor market has some disadvantages such as an increase in competition for jobs as many people will be searching for jobs. Most free labor markets do not have worker unions thus oppression of the employees may take place, and no one can stand up to protect them (Shimer, 2010).

Need for Government Regulation

There is the need for government regulation in the free labor market because the absence of a standardizing organization like the government will lead to worker oppression like overworking of the employees or even underpayment for services rendered. The government ensures equality among all the employees of organization ensuring they are treated well. 


In conclusion, it is evident that the United States is part of the countries with free labor market which increases employment, promotes innovation and encourages setting up of small businesses. In as much as free markets are productive, there is the need for government regulation for equity and employee protection.


Budd, J. (2017). Labor Relations: Striking a Balance. New York, NY: McGraw-Hill Higher Education. Edition 5. ISBN 978-1-259-41238-7

Forbes. (2003). The World’s Freest Labor Markets. Retrieved from: 

Krinsky, J. (2007). Free Labor: Workfare and the contested language of neoliberalism. Chicago: University of Chicago Press.

Shimer, R. (2010). Labor markets and business cycles. Princeton, N.J: Princeton University Press.

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