Answer
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Step 1Here's a comprehensive explanation of the five key factors affecting the labor market:
Step 2: Economic Conditions
- Overall economic health significantly impacts the labor market - Includes factors like GDP growth, economic cycles, and business confidence - During economic expansions, job opportunities increase - During recessions, unemployment rises and job opportunities decrease
Final Answer
1. Economic Conditions 2. Technological Advancements 3. Education and Skills 4. Demographic Changes 5. Government Policies
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