The paper analyzes the role of imperfect competition and the labor market in a macro model with uncertainty. In such an environment, two key methodological aspects are stressed: the symmetry hypothesis becomes untenable because of the heterogeneity of the agents, while, at the same time the imperfect knowledge economics (IKE) suggests shortcuts in order to analyze these interdependences among them. Three results follows: the non self-referential character of the labor market makes the presence of unemployment likely, aggregate demand can play a role, while a learning process capable of generating endogenous dynamics takes place. In particular, bounded rational expectations based uopon a Markov regime switching hypothesis with agents trying to leran the values of the parameters by means of rolling regressions will be considered. Simulations exercises will study the overall dynamics of the model.