Labour Market Information helps identify changes or trends that affect the world of work. It also provides a picture of what will be required in the future. This information may be helpful when someone is looking for a career or thinking about changing jobs. LMI provides key information for employers to remain competitive.
Labour Market Information (LMI) is needed to make better decisions about jobs or work environments. It includes information on occupations or careers such as:
- educational requirements;
- job descriptions;
- salary rates;
- the availability of workers; and
- current employment trends and indicators.
It may also include information about:
- the number of jobs in the manufacturing sector in comparison to the service sector;
- a description of industries;
- a listing of employers; and
- their value to a particular community.
LMI is not limited to occupational and industrial information. It may also include information about:
- the economic future for communities;
- unemployment rates;
- educational institutions;
- the availability of skilled workers; and
- the age, gender and educational level of the community members.