In terms of labor market efficiency it must be emphasized that
cooperation plays a decisive role on employee-employer relationship. In a
stable competitive environment this factor is crucial and very important. It
can be said that flexibility in terms of how wages are set and hiring and
firing practices of employees are essential factors in the analysis of labor
market efficiency. In another vein, assessing the effectiveness of this market
should take into account the relationship between labor productivity and
wages, cost of firing employees and confidence in professional management.