Tuesday, December 18, 2012

Using Labour Market Information

When deciding upon which career path to pursue one resource that many employment consultants / counsellors will recommend is a thing called Labour Marker Information (LMI). Essential the facts and figures contained within the labour market information is concerned with the conditions of the labour force area you are looking at. At first glance it can be very overwhelming unless you have an idea of what you are looking at.

What can Labour Market Information tell me?

Labour Market Information can tell you a variety of things that will have an impact on your job search including

·         What the different industry sectors are
·         Current employment rates within industries
·         Which industries are in growth or decline
·         What skills and education employers are looking for
·         What working conditions are like
·         What factors can help or hinder you finding employment

This information is of particular importance if you are looking at relocation or entering in to a new profession as it will help you to decide if your current plan is feasible before you make any final decisions.

Where can I find this Information?

Labour Market Information comes from two different sources. The majority of the statistics and information contained within labour market information are generated through various Government of Canada departments including

·         Human Resources and Skills Development Canada (www.hrsdc.gc.ca)
·         Service Canada (www.servicecanada.gc.ca)
·         Statistics Canada (www.statcan.gc.ca)

These departments generate a number of reports and surveys at the national, provincial and regional level the majority of which can be accessed freely through their websites as well as provincial government websites such as www.tcu.gov.on.ca/eng/labourmarket

The second source of labour market information comes from research groups and non-profit organizations including:  
·         The Local Boards of Ontario – (www.workforceplanningboard.org)
·         The Conference Board of Canada – (www.conferenceboard.ca
·         The Ontario Network of Employment Skills Training Projects – (www.onestep.ca)
·         www.settlement.org

These agencies utilize the information provided by Government of Canada departments as well as conducting their own research with employers and labour market conditions.  

Where to start?

To begin utilizing labour market information there are several tools and reports that have already been developed to provide individuals with easy access to information. From this starting point you can then access links within these sites to gain even more information.

·         The Working in Canada website (www.workingincanada.gc.ca) allows individuals to search for specific occupations by name and provides basic labour market information on the occupation along with current job postings within that field
·         The Labour Force Survey (website) – Is a monthly publication released by Statistics Canada and shows federal and provincial trends within the labour force
·         www.indeed.ca – At the bottom of their site is a link to Industry Employment Trends which show the increase or decrease in job postings
·         The Ontario Ministry of Training, Colleges and University have a number of resources available on their website regarding labour market information. One resource in particular is the 2012 Employment Profile  which includes feedback from Ontario college students, graduates and their employers