Grade Booster student workshops are back in cinemas for 2022. Learn more


Study Notes

Informal Labour Market (Labour Markets)

AS, A Level, IB
AQA, Edexcel, OCR, IB, Eduqas, WJEC

Also known as the “grey” market, shadow economy, or black economy. This is the part of the economy that is not taxed or regulated by government, and therefore does not feature in the GDP statistics for that country.

People working in the informal labour market are likely to be paid in cash, and may undertake work such as domestic cleaning / gardening, babysitting, car-washing and is characterised by unstable employer-employee relationships. Informal work is often vitally important to the poor.

Boston House,
214 High Street,
Boston Spa,
West Yorkshire,
LS23 6AD

Tel: +44 0844 800 0085

© 2022 Tutor2u Limited. Company Reg no: 04489574. VAT reg no 816865400.