Labour Market Information
What is Labour Market Information?
Labour Market Information (LMI) is a useful way to find out more about future jobs: to understand the skills needed for certain roles, and the demand for different types of job in the future.
LMI shows you information about careers, how you get into them, what the salaries are, what skills and qualifications you need, how much time the job will take up each week, and, crucially for young people just entering the labour market, it also shows the expected future demand for different roles.
Why is it so important?
LMI can help you understand whether you are gaining the right skills for the sort of job you want. Then your teachers, your family, and your careers adviser can help you find ways to learn the skills you need. LMI also tells you about the career's promotional prospects, salary, how much in demand it is, whether it's increasing or in decline, and much more.
If you are interested in more detail about labour market trends, Warwick University's Institute for Employment Research has many articles looking at different sectors of the economy.
Live Labour Market Information
Explore different careers with the Careerometer to the left. Find out the average pay, how many hours a week you'd be expected to work and, very importantly, whether demand for this type of work is increasing or falling.
MK labour market headlines - year to June 2020
In the year July 2019 to June 2020 there were 270,000 people living in Milton Keynes. Sixty-three per cent (169,000) of these were of working age (16-64 years).
Of those 169,000 working age people, 144,000 were economically active. This means they were working, or looking for work.
% of working age population that are economically active
Milton Keynes 83%
South East 82%
Great Britain 79%
% of economically active population that are unemployed
Milton Keynes 3%
South East 3%
Great Britain 4%
% of % of economically active population that are employees
Milton Keynes 71%
South East 67%
Great Britain 65%
% of households where no adult is in work
Milton Keynes 11%
South East 10%
Great Britain 14%
% of working population by select occupations
Milton Keynes 52% managers & professionals, 8% sales and customer service, 11% unskilled occupations
South East 53% managers & professionals, 7% sales and customer service, 7% unskilled occupations
Great Britain 49% managers & professionals, 7% sales and customer service, 10% unskilled occupations
Job density (number of jobs / number of working age population)
Milton Keynes 1.17
South East 0.88
Great Britain 0.86
Gross weekly earnings by place of residence
Milton Keynes £669 males, £547 females
South East £684 males, £561 females
Great Britain £622 males, £544 females
Source: https://www.nomisweb.co.uk/reports/lmp/la/1946157283/printable.aspx