LMI

 
 

LMI


The labour market is the place where people are looking for jobs and employers are looking for people to fill them. In an ideal world there would be a perfect fit between the two but in reality this does not happen. Understanding trends in the labour market can help you to see why this is so.


What is the labour market?

The labour market is not an actual market that you go to, it is a general term to describe job seekers on one side and jobs on the other. Sometimes people will just call it the 'jobs market'. In the same way you choose what mobile phone to buy an employer chooses who they want to employ from everyone who has applied for their job vacancy. But as it's a jobs 'market' this also means you have choice about what you apply for and whether you accept a job that's been offered. How much choice you have will depend partly on where you live and what you want to do but it is important to approach the labour market positively and to be determined to find the job you want.

Is there just one labour market?

There are different types of labour market depending on what you want to know. You could find out about the labour market as a whole (England), you could find out about an area (the North East), you could find out about a county or even a town. There is not one all-embracing website with everything you need on it so you will have to gather information from different places if you want to find out more. But you can find out a lot just from talking to people around you. What kinds of jobs do people in your area do? What about your parents/carers and their friends? How easy was it for them to find the job they wanted and have they been able to stay in their job?

What can I do to give myself the best chance of finding a good job?

Apart from gaining as many high quality qualifications as you can to help you progress you should also pay careful attention to developing employability skills. These are the main skills employers look for when deciding whether to offer you a job. The CBI (Confederation of British Industry) said in 2010 'All employers are looking for young people with strong employability skills, including the ability to solve problems, work in teams, and manage their time effectively.' It is often through other activities like work experience, volunteering or part time jobs that you can really develop these skills.

What do I need to know about Labour Market Information (LMI) to really help me?

There is an enormous amount of LMI available, partly because lots of different agencies and organisations, including the government and local councils, need to keep records of what is happening in the jobs market. So much information can be extremely confusing, especially when your questions might not even be about a particular job now, it might be about what jobs will exist in 3 years time! At this stage it's probably a good idea to have a general awareness of trends in the labour market using the links on Sun1419 and looking at specific career areas when you have an interest in them. The job descriptions on Connexions Direct Jobs4u have a small section on job prospects.

What is happening in the labour market now?

The UK economy from 2008-2010 has been going through one of the worst recessions for many years. This has had a huge effect on the labour market and some industries such as Construction, Manufacturing and Banking have seen many job cuts. Other areas have also seen cuts but remained more stable. Though this may sound gloomy it is important to remember that it is the nature of most economies that they see good times and bad times. This should not stop you from focusing on what it is that you want to achieve from learning and what type of work you go into. In times of recession it just means you have to pay attention to offering that little bit extra to an employer to make them want to give you a job.

How will the recession affect young adults in the North East?

In the short term the recession has led to fewer employment opportunities for young people and this has been the same around the country. This means there may be fewer Apprenticeships available for those wanting to enter training. However, the CBI have said it is vital that in difficult times young people continue to learn and gain qualifications and skills to better prepare them for their job search when it comes. In the North East there will be a growing need for young people with STEM subjects (Science, Technology, Engineering and Maths), so why not look at the job areas explanding in these areas? Also in times of recession people often find a product or service people need and start their own business. Is this something you could consider later on?

What does it mean to be unemployed?

To be unemployed means you have no job and may be claiming benefits depending on your age and personal circumstances. You may have heard of the term NEET - Not in Education, Employment or Training? This refers to 16-18 year olds who are unemployed for a variety of reasons. Perhaps they don't want to work or learn, perhaps they don't have the qualifications to progress, or it could be that they have a number of personal problems or health issues that are preventing them from moving on. Whatever the reason, being unemployed is almost always a negative experience for the person concerned and not normally a situation they would choose to be in.

What are Job Sectors?

A job Sector is a group of job areas that can all be grouped together in one category because they share similar characteristics. Looking at job sectors can sometimes help people work out what type of area they want to work in, even if they don't have a specific job in mind. On the Connexions Direct Jobs4u site all jobs are divided into Job Families which are similar to job sectors. There are 23 Job Families starting with Art and Design and ending in Transport and Logistics. Check these out if you want to know more about the type of work that interests you and what the chances are of doing that job in today's labour market.


 

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