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.
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…
Latest ONS Labour market figures: unemployment dropping to 3.8%. vacancy rate remains high at 1.3 million, and economic inactivity continues to rise to 21.4%. The…
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