The term "labor agreement" refers to a formal agreement between an employer and employees regarding the conditions of work, such as wages, benefits, and working hours. There are various synonyms for this term, such as collective bargaining agreement, employment contract, union contract, trade agreement, and wage pact. Each of these synonyms highlights different aspects of the agreement, such as the involvement of a union, the specific terms of the contract, and the focus on wages. Regardless of the specific terminology used, the goal of these agreements is to establish fair and productive working conditions for all parties involved.