Labor and Economic Terms

Front

50/30/20 Rule

Back

Budgeting technique dividing a person’s net income into three categories by percentages.

Front

Blind Hiring

Back

Process of blocking out a candidate’s personal information, which could influence a potential job offer and hiring decision.

Front

Economic Climate

Back

Condition of a particular country’s economy.

Front

External Labor Market

Back

All jobs and workers not within a single company.

Front

Flexible Work Arrangements

Back

Remote work, work-from-home options and hybrid options.

Front

High-Demand Occupations

Back

Abundantly available opportunities lacking qualified applicants.

Front

High-Skill Occupations

Back

Requires specialized training to operate, manage or participate in the organization.

Front

High-Wage Occupations

Back

Occupations paying more than the industry median wage.

Front

Income Inequality

Back

How income or income growth can be distributed unevenly in a population.

Front

Internal Labor Market

Back

Jobs and employees within a company.