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Exploring the Labour Market: Career Planning sub-module 3 of 4

Following your interests is an important part of career planning, but chances are that you also want to find a job! This module will help you to explore labour market information (LMI) and get a sense of employment possibilities.

Tips

  • Use reliable resources.Make sure to get your information from reputable resources, like government websites or professional associations. If you're unsure about a resource, evaluate it for quality.
  • Look at all the pieces of the puzzle.Labour market information can help you make an informed program or career choice, but you also need to consider your interests and needs.
  • Check your expectations.Most people do not start working in their dream job right away. You might need to move, take a lower-paying job, and work your way up.
  • Nothing is set in stone.Predictions are not facts. Many variables can affect the job market -- for example, changes in technology can cause a boom or a bust in an industry.
  • Branch out!Don’t limit your research to one career area. College provides you with a transferable skill set that will make you a strong candidate for lots of different jobs.

Introduction to Labour Market Information

Watch this video to learn about how to find and use reliable labour market information. You can also download the Introduction to Labour Market Information video transcript.

Labour market information (LMI) provides data on a number of employment industries (for example, manufacturing). Labour market information can tell you many different things, including job trends, the jobs and skills employers are looking for, which industries are hiring, where jobs are located, and areas of job growth or decline -- in other words, it’s an excellent tool in career planning!

Factors That Influence the Labour Market

The following factors can influence the likelihood of being hired in a specific field, and can be found out through labour market information:

  • Supply and demand: How many people are trained for an occupation? How many jobs are there?
  • Language abilities: Do you need to be bilingual for this kind of work?
  • Seasonal fluctuations: Is this work more in demand at certain times of year (e.g. landscaping)?
  • Population: Is the demand for this work increasing or decreasing based on population patterns?
  • Economy: How do economic factors influence job prospects?
  • Technological advances: Has the field been impacted by recent changes in technology (e.g. online shopping)?
  • Skills and abilities: What skills and abilities are essential to this kind of work?

Labour Market Information Resources

Programs

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