Labour market INFORMATION

What is Labour Market Information

Labour Market Information, or LMI, is integral in students having a clear understanding of trends in employment within the UK. This understanding of the changing nature of employment can have an important role in helping students to decide which career pathways they may wish to enter in the future. As well as telling us where people work, LMI can also provide useful insights into the skills in demand for that particular route. This therefore enables students to understand which employability skills they need to develop in order to be as successful as possible in entering a particular role.

LMI describes the condition of the labour market, past and present, as well as future projections. It makes clear where work opportunities are increasing or decreasing, what occupations exist, what you need to study to become a professional in that occupation, what is required to take up an occupation, how one can find a job, change job or progress in a career.

Where do people work in the UK labour market?

Labour market information looks at both the industries in which people work and the occupations they have. Some jobs are mostly available in only one industry, e.g. nurses work mainly in the health and social care industry. Some jobs are available across a wide range of industries, e.g. accountant.

However, a large company making computers will employ one or two nurses and several accountants, as well as many computer design engineers. Many jobs are available in all industries to some extent, particularly in large organisations with many employees.

When students make their career choices they should take into account where they would like to work as well as what they would like to do.

How is the London Labour Market changing?

The central projection estimates that jobs in London will grow from 2019 at an annual average rate of 0.78 per cent a year, equivalent to 49,000 jobs, to reach 6.907 million in 2041.

They project that jobs in the professional, real estate, scientific and technical sector are expected to grow strongly, accounting for over a third of the total increase expected in London to 2041. Strong employment growth is also expected in the administrative and support services, accommodation and food services, information and communications sectors, education and health sectors. The six sectors account for nearly three fifths of the expected total London increase in jobs to 2041. In Redbridge it is expected that 500 new jobs will be created a year over the next 20 years, meaning that rates of employment within the borough are set to rise.

Labour Market Intelligence predicts that:

Fewer people will be working in agriculture and manufacturing
The largest rise in employment opportunities will be in the service sector: hotels and restaurants, retailing, health and social work, and financial services

Jobs in childcare and health care will increase because more women are entering the workforce and need childcare, and an ageing population is leading to a demand for more health care.

Careerometer widget

Careerometer is a freely available widget provided by the LMI for All service. It is an easy way to get access to labour market information. The Careerometer widget provides access to a selection of headline data relating to pay, weekly hours of work and future employment prospects.

Useful resources for Labour Market Information

In order for students to fully understand the importance of Labour Market Information in allowing them to develop their understanding of future career decisions, please see the following links to aid with discussions. These look at the labour market on a national and local level, and can therefore enable rich career focused conversations between parents and students.

LMI for All contains a training course to support parents and students with developing their understanding.

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