Labour Market Information (LMI) is information about what is happening in a labour market. LMI tends to focus on the industries that are growing and declining, the types and levels of jobs are increasing and decreasing and what supply of labour is available – numbers, skill and qualification levels.
Definition: A labour market is the place where workers and employees interact with each other. In this market, employers compete to hire the best, and the workers compete for the best satisfying job.
The most popular response to hiring difficulties has been to raise pay (44%). But employers may be reaching a limit on how much further they can go on pay: only 27% anticipate raising pay in future to address hard-to-fill vacancies. Encouragingly, employers are also looking to other means to tackle staffing challenges: 39% have focused on upskilling more existing staff and 38% have advertised more jobs as flexible. These are vital factors in improving job quality and will be increasingly important for employers as they wrestle with recruitment as well as retention.
A tight labour market has seen pay growth strengthen and unemployment fall to a near-50-year-low. But the workforce continues to shrink, driven by economic inactivity…
REC’s take on the Party Conferences for FE News The atmosphere at the two major political party conferences this Autumn could not have been more…
Compared to other developed countries, the UK has one of the lowest rates of social mobility. While recognising that the reasons behind this stretch beyond…
The UK employment rate for May to July 2022 for people aged 16 to 64 years decreased by 0.2 percentage points on the quarter to…
The new Prime Minister needs to prioritise additional help for people on the lowest incomes, a plan to widen participation in the labour market and…
Today (Tuesday 16th August), the Office for National Statistics have published the latest labour market figures. This month’s figures show that real wages have fallen…
A labour market crisis The UK has lots and lots (and lots) of jobs, but not enough people with the right skills to fill them.…
As a Welsh Government, we made a commitment that no one would be held back or left behind as a result of the pandemic, in…
One of the biggest issues facing the FE sector is the ability to attract and retain the employees that deliver the high-quality training provision learners…
This month’s Official for National Statistics release show signs that the labour market recovery is stalling, with a continued outflow of older workers from the…
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