Local Market Information
We want students to be aware of the fantastic opportunities available to them locally.
Labour Market Information allows us to visualise new and developing routes and pathways, such as technical levels in occupational areas and the expansion of apprenticeships. This source published nationally shows labour market information for the Greater Manchester area.
LMI helps provide data, statistics and predictions about present and future trends in the workplace.
CAREERS WAGES CALCULATOR
WHY DO WE NEED LMI?
•To identify future trends – which types of businesses are doing well or failing (growth areas)
•To provide information about job vacancies
•To inform of the location of job vacancies – Local, Regional and National
•To tell us about the types of vacancies – part-time, full-time, temporary, seasonal or permanent
•To clarify the skills and qualifications required by employers including skills gaps
•To predict wage rates
WHY DO CHANGES IN THE LABOUR MARKET TAKE PLACE?
•Labour movement – which can be affected by relocating, immigration and emigration as people move in, out and around the country
•Population – affected by number of workers reaching employment and retirement age, e.g. There were nearly 99,000 16-18 year olds in 2015 in GM. This is forecasted to decrease within the next 5 years by approximately 1,000 (numbers based on national census records)
•New developments – e.g. HS2 (high speed rail). The Governments new commitment to fund up to 1,500 additional student places through medical school from Sept. 2018
•Government policies – e.g. Devolution and the new Northern Powerhouse
•New technology – advances in technology creating new job roles e.g. development of the Social Media Co-Ordinator