What are the 3 main factors that affect the labor market

Economy- Macroeconomic conditions affect labor supply and demand. Job losses during a recession mean less disposable income for consumers and less demand for cars.
Globalization-Globalization involves the import of foreign automobiles and relocation of manufacturing facilities overseas. This has led to a steady decline in U.S. automobile-sector employment.
Compensation- Compensation includes wages and benefits. According to an April 2011 U.S. Bureau of Labor Statistics report, there has been upward pressure on wages and downward pressure on benefits.