LMI

Labour Market Information (LMI) describes any type of information used to make informed decisions about the labour market. Some notable properties of LMI are as follows:

• LMI can be information based on numbers, such as detailed statistics related to: employment wages and salaries, businesses and employees, industry sectors, as well as occupational trends and future employment forecasts.

• LMI can also include other kinds of descriptive information as well, such as details regarding: duties related to a specific job, the role and impact of emerging technologies, the workplace, how working conditions are changing over time, and the cost of living relative to the availability of employment opportunities. Information related to employment standards and qualifications, education and training, and career options would also be included here.

• LMI can be as complex as the data found in carefully analyzed charts, tables and reports but can also be as simple and common as the news stories you see on your TV or computer, the information you pick up from other people (such as from teachers, parents, and friends), and the details you collect through announcements made by government, business, and industry groups.

• LMI is anything that provides timely, relevant and accurate information about the labour market and helps you make important decisions related to that labour market (either for your own benefit or for other people’s).