What term describes the job market when demand for specific KSA's is high, but their supply is low?

The term that best describes a job market where the demand for specific Knowledge, Skills, and Abilities (KSA's) is high but their supply is low is known as a labor-driven job market. In this context, a labor-driven job market suggests that employers are actively seeking talent with particular KSA's that are scarce in the workforce. This situation typically results in higher wages and benefits being offered to attract the needed talent, as employers compete for a limited pool of qualified candidates.

Such a scenario is significant for organizations as it can impact hiring strategies, employee retention, and overall labor costs. Organizations may need to invest in training and development to cultivate these KSA's internally or enhance their recruitment strategies to attract candidates from outside the organization.

Understanding this dynamic helps organizations navigate the challenges associated with labor shortages and strategically align their compensation and benefits packages to attract the desired talent.