#Frictions_in_the_Labor_Market_Costly_to_Make_Changes In this video, we will learn about Friction in the Labor Market. We talk about how the demand for labor is affected when we assume that both workers and firms find it costly to make changes to their behavior when demand or supply is altered.  Higher costs of change will cause workers and firms to display more resistance to change, economists borrow a concept from physics and talk about these costs as causing labor market "frictions." 00:00 Introduction 00:21 Labor Cost Assumptions  04:21 Frictions in the labor market  06:17 What is friction in the labor market? 07:11 Time to end

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