What is labour market information?
LMI can be defined in two ways:
- Labour market information
- Labour market intelligence
Both terms are used to descibe and make sense of the structure and workings of the labour market, and the various factors likely to influence it. This can include information on:
- Jobs available
- People available to do those jobs
- The mechanisms that match the two
- Changes in the external and internal business environment.
However there are difference between information and intelligence.
It is generally accepted that labour market information refers to either quantitative or qualitative data found in tables, spreadsheets, maps, graphs, charts, reports, newspaper articles or anecdotally.
Labour market intelligence refers to subsets of information that have been subjected to further analysis. It is an interpretation of labour market information which aids understanding.
WARD,L. (Ed.) 2004. LMI Matters! Understanding labour market information: a toolkit for people who give advice and guidance on educationa and employment. Department for Education & Skills.
Author/Source: LMI Admin