Labor Source
Definition
A labor source refers to the origin or supply of workers who are available and capable of performing a particular job or task.
Analogy
Think of a labor source like a toolbox. Just as you would reach into your toolbox for the right tool to fix something, companies and industries reach into their "labor source" to find the right workers for specific jobs.
Related terms
Labor Force: This is the total number of people who are eligible to work in an economy. It's like all the tools that could potentially be in your toolbox.
Skilled Labor: This refers to workers who have specialized training or skills. These are like your high-quality, specialized tools that can perform complex tasks.
Unskilled Labor: This refers to workers without specialized training or skills. They're like your basic hammer and nails - simple but necessary for many tasks.
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