A place where labour supply is exchanged for a wage. Labour markets can be identified by a combination of such factors as geography (local, regional, national, international), industry, education, licensing or certification, and occupation. More generally, labour market can refer to the processes by which workers and employers are brought into contact, and wages and conditions of work are decided. Some of these involve formal institutions: contacts between workers and employers may be arranged by employment exchanges or agencies, either public or private.