Labour Market Information

Labour Market Information (LMI)

Understanding how the world of work is structured and how it is changing, and what the impact of that is likely to be, is a key part of planning your future.  LMI is information which relates to the labour market such as data on employment, wages, qualifications, job openings and working conditions.

Why is understanding LMI important?

You need to consider factors such as whether a career path or job is in decline, or is not available in your chosen geographical area, if you would rather not move. LMI can help you determine:

  • What jobs and employability skills employers are looking for
  • Which industries and sectors are employing people
  • What hours, wages and working conditions can realistically be expected
  • Which job sectors are growing in the future
  • Where there might be opportunities for self-employment or new business development
  • Which new skills or qualifications which would greatly improve prospects of gaining employment in a particular industry or sector

Before you start thinking about the types of jobs or careers you want to do in the future, it’s worth asking yourself the following questions:

  • Are these jobs likely to exist by the time I’m qualified?
  • Is the sector growing and seeking workers?
  • What skills will I need to develop to do those jobs?
  • How far am I prepared to travel for a job I like?

You can look at the Labour Market of a particular sector or career here via this website.  It gives you detailed information about the local area.  You can also look at other areas but altering the search.

GoCompare click here

And for those who are really interested in the changing job market, this report makes interesting reading: The Future of Work: The Job Market in 2030