Concept
What are the internal and external labor markets?
IntroductionToBusiness OP 8D04gAa / 8.2. Employee Recruitment*
"When a firm creates a new position or an existing one becomes vacant, the firm starts looking for people with qualifications that meet the requirements of the job. Two sources of job applicants are the internal and external labor markets. The internal labor market consists of employees currently employed by the firm; the external labor market is the pool of potential applicants outside the firm."
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