What is Labour Market Information (LMI)?
Labour Market Information (LMI) is any kind of information that helps people make smart choices about jobs and careers. This page explains what LMI is, how it can help you, and some common terms used when talking about jobs and the economy.
LMI can include:
- Numbers and data like wages, job openings, types of jobs, and future job trends.
- Descriptions about what people do in certain jobs, how workplaces are changing, and how new technology affects work.
- Everyday sources like news stories, advice from teachers or parents, and announcements from businesses or the government.
LMI helps you understand what jobs are available, what skills are needed, and how to plan for your future.
How LMI Can Help You
LMI can help you:
- Choose what to study or train for
- Find your first job
- Plan your next career move
- Learn what skills are needed for future jobs
- Understand how the job market is changing
Good LMI helps everyone by making it easier to find the right jobs and build a stronger economy.
Important Words to Know
Working-age population – People aged 15 to 64, whether they have a job or not.
Labour force – People aged 15 and older who are working or looking for work.
Participation rate –The percentage of working-age people who are in the labour force.
Unemployment rate – The percentage of people in the labour force who don’t have a job but are looking for one.
Statistics Canada – The government agency that collects and shares data about Canada.
NOC (National Occupational Classification) – A system that groups jobs by type and the skills or education needed.
NAICS (North American Industry Classification System) – A system used to organize business and industry data in Canada, the U.S., and Mexico .
LFS (Labour Force Survey) – A monthly survey that shows how many people are working or unemployed in Canada.
NL Stats – The Newfoundland and Labrador Statistics Agency, which shares monthly data about the province.