Simple English definitions for legal terms

market-recovery program

Read a random definition: examiner's answer

A quick definition of market-recovery program:

A market-recovery program is a plan created by a labor union to keep or increase its share of the workforce in a specific market. This is done by supporting contractors who bid on specific projects. It is also known as a job-targeting program.

A more thorough explanation:

A market-recovery program is an initiative by a labor union to maintain or improve its share of the labor in a particular market. This is done by financing or backing contractors who bid on targeted projects. It is also known as a job-targeting program.

Let's say a labor union wants to increase its membership in the construction industry. They may create a market-recovery program by offering financial support to contractors who hire union workers. This would give those contractors an advantage when bidding on projects, as they can offer a union workforce. This, in turn, would increase the union's share of the labor in that market.

Another example could be a union in the healthcare industry creating a market-recovery program to ensure that their members are hired for specific positions in hospitals or clinics.

These examples illustrate how a market-recovery program can be used to help a labor union maintain or increase its share of the labor in a particular market.

market quotation | market share


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