[ lˈe͡ɪbə pˈuːl], [ lˈeɪbə pˈuːl], [ l_ˈeɪ_b_ə p_ˈuː_l]
Related words: workforce, labor market, labor pool depth, labor pool size, labor pool estimation, labor pool statistical modeling
How to use "Labor pool" in context?
A labor pool is an accumulation of workers that can be drawn on to fulfill short-term work needs. Many businesses use a labor pool to fill temporary positions, such as during the holiday season. The use of a labor pool is also common in times of recession, as businesses try to save money on salaries.
The advantage of using a labor pool is that it is less expensive than hiring a new employee. The disadvantage is that the pool can be unreliable, especially if the pool of available workers is limited. If the labor pool is large, it may be difficult to find the right person for the job.
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