What is a global labor market? First, we should define the meaning of a labor market. A labor market is the relationship of communication between the suppliers and the demanders so that they are able to do business together. The global aspect of the labor market refers to the world and all that contribute within this measure, also known as globalization.
Globalization is the process of integrating regions through societies, political systems, economies, and culture to share ideas between the countries. What is better than that? You can learn and use ideas and customs from other countries and this process profits all that take part in it. Culturally, this is beneficial because we are learning from other countries and bridging the gap between countries. All around, globalization is a positive action because we can learn from each other and better our countries with other ideas and in turn work for the good of the whole world.
On the contrary, some believe that globalization only creates clash within a province. With jobs being scarce in more developed countries because of the crisis, jobs being filled by immigrants could have a negative effect on the people of a country and with most immigrants moving to a region with a higher labor market and better chance of earning a better wage for their families, in turn these countries are homes for most of the migrants in the world.
Potentially, it could give people the impression that immigrants are a negative thing. Some think that too much globalizing could give corporations too much power in the long run because they would be trusted with too much.
With the good intentions of this global labor market idea of globalization, I believe with a checks and balance type of system we could make it work.