Introduction to Labour Market Information

Introduction to Labour Market Information


“Tell me what to take so I can get a good job”. This is a statement that college career
counsellors hear all the time, and it’s a fair one. You want to pursue your interests, but
ultimately, you also want to find a job! The good news is that there is a ton of
information out there about which industries are
hiring, and this video will help you to navigate some of
it. Labour market information, or LMI, can tell you
lots of different things, such as job trends, the jobs and skills employers are looking for,
what industries are hiring, where the jobs are
located, and areas of job growth or decline. Looking at this kind of information can help you
with your career planning, but it can be overwhelming to sort through the
huge amount of info that a quick Google search
turns up. So first, we’re going to show you a few reliable
places to find labour market information. A good starting point is to look at the
Government of Canada’s website and go to the
Job Outlooks page. Here, you can see if growth in the field is
limited, fair or good. The release date of the information appears in
the lower right hand corner of each section, so
you can tell how recent it is. If you check out the website’s job bank, you can
also see any job postings that are currently
listed and get a sense of who is hiring and the salary. The provincial jobs website also provides great,
up to date information on job trends in Ontario. Here, you can search by occupation and
access information about employment growth
and wages, among other things. Statistics Canada is also a great resource that
provides labour market information, including
employment rates across the country. Another helpful resource to check out is
Algonquin College’s Graduate Employment
Reports. These reports, put out yearly, can be found
online and show you how many people
graduated from a program, how many found work, whether or not it was
related work, and other information. The online Career Coach tool can also provide
labour market information for the Ottawa/
Gatineau region. Now that you have an idea of where to look,
there are a few important things to remember
when sifting through labour market information. You want to make sure the information is
coming from a reputable source, like the
government websites we just looked at. Think critically about the data presented: what
is the sample size for the statistics, so, did they ask enough people for the
information to be reliable? Similarly, is the data up to date? You’ll want the
information to be relatively current. Finally, check your expectations. While it would
be wonderful to graduate and immediately secure a high-paying job in
the city of your choice, it’s possible that you may have to move for a
little while to gain the experience and skills
needed to secure employment in the area you would like to settle in long term. Remote and rural communities often provide
more opportunities that you would have in
larger urban areas where the competition for employment can be
huge. Finally, don’t be turned off by short term or part
time opportunities: part-time and contract work
are a great way to gain experience and get a foot in the door. For more information, including links to
websites with reliable labour market
information, check out the rest of this module.

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