Labour market (job market) information tells you about the current work and job environments in specific regions. It includes information about specific companies, industries and occupations. For example:
- Who is hiring
- What occupations are currently in demand
- Which regions of the province need workers
Learn more about labour market information by reading Separating the Best LMI from the Rest.
What do you need to know about LMI?
Several factors influence the labour market. Understanding their impact allows you to anticipate the types of skills that will be needed and the kinds of work that will be available in the future. The following factors influence Alberta’s labour market:
- Demographics are the characteristics of a population, such as average age, population size and projected growth. For example, one influence of the aging population of baby boomers on the labour market will be an increased need for services for seniors.
- Technological change means an increasing number of occupations require basic computer skills. One result of this is that no matter what occupation you choose, computer skills will likely be an asset.
- Globalization means that companies can operate all over the world and around the clock. One labour market outcome of globalization is the growth in the development of call centres.
- Local, provincial and national economic situations influence the ups and downs of the labour market, including the strength of specific industries such as oil and gas, and variations in the overall employment rate.
- Industry or sector activity is the change in growth and job outlook in Alberta’s 19 major industries.
- Labour market trends describe the combined effects of the influences in this list. One example of a trend is the growing diversification of Alberta’s economy.
- Key occupational needs and requirements can change as a result of labour market trends. To learn about the educational requirements, duties, working conditions and salary expectations of over 550 occupations, check out OCCinfo.