Department Of Labor - DOL

Definition of 'Department Of Labor - DOL'


A U.S government cabinet body responsible for standards in occupational safety, wages and number of hours worked, unemployment insurance benefits, re-employment services and a portion of the country's economic statistics.

Investopedia explains 'Department Of Labor - DOL'


The Department of Labor (DOL) works to promote the welfare of the job seekers, wage earners, and retirees. It strives to improve working conditions and create opportunities for profitable employment. It also works to protect retirement and healthcare benefits, help employers find workers, strengthen collective bargaining, and track changes in employment, prices and other national economic measurements. The Department also administers a variety of federal labor laws.


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