To understand what implied volatility (IV) is, you must first understand what volatility is. Volatility measures the amount that something changes (or in more fancy jargon, it measures the magnitude of change). For example...the price of gas is volatile.
Labor Organization Definition: A defined group of employees formed for the purposes of representing those employees with the employer as to the terms of a collective contract of employment. Related Terms: Union, Trade Union, Labor Union, Collective Bargaining, Disclaimer of Interest.
Organized Labor. A group of employees in a certain company or with a certain skill who unite in a single body for purposes of negotiating wages, benefits, working conditions, and other issues with management. Members of an organized labor group must ratify decisions made by their representatives with management.