Question

Guy Ryder stated that the labour market is tight but

• Wages are volatile
• There is a lot of market uncertainty
• None of these (incorrect)
• Wages are not moving much
• Markets are stable

Question may/may not have more than one answer.

Answer 1

Tight labour market is when an economy is close to full employment and recruitment becomes difficult placing upward pressure on wages.

According tu Guy Ryder (ILO chief) the wages are remaining sticky despite tighter labor markets. Ryder explained that this tighter labor market, or low unemployment, and underemployment coincided because there had been “a lot of people have been crowded into short time contracts.”

Further, Ryder described market uncertainity arising due to factors like "transitional change, through technologies … climate change action and demographics,”.

Thus the correct answer choices are: Guy Ryder stated that the labour market is tight but (b)there is a lot of market uncertainty; and (d) wages are not moving much.