Labor Market Information PowerPoint

1. LABOR MARKET
INFORMATION
T r a c k i n g Y o u r N e t W o r t h

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WHAT IS LMI?
Labor Market Information (LMI)
is “data about labor supply and
demand, earnings, employment
and unemployment statistics, job
outlook, and demographics of
the labor force make up.”
https://www.thebalancecareers.com/how-to-use-
labor-market-information-to-explore-careers-525637

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WHERE TO FIND LMI
DATA You can research LMI data on the
internet by using the following sites:
The Bureau of Labor Statistics:
https://www.bls.gov/
O*Net Online :
https://www.onetonline.org/

4. HOW TO USE LMI DATA
LMI data is helpful when you are researching your next career move.
The information found can help you learn more about:
How many people are employed in a particular occupation ?
Which companies hire people within a particular industry ?
What areas of the world/country have the most demand for a particular occupation ?
What is the earning potential ?
If there is a demand for your occupation that makes it beneficial to obtain training ?

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ACTIVITY 1: BUREAU OF
LABOR STATISTICS
Activity 1: One way to access the BLS's employment
projections is through the Selected Occupations
Data tools.
Directions: Use any of the BLS search tools to answer
the following for your occupation:
• Total Employment in Base Year and Target Year
• Employment Change Between Base Year and
Target Year (as a number and a percentage)
• Percentage of Workers in This Occupation Who
Are Self-Employed
• Job Openings in Target Year Due to Growth and
Replacement Needs

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KNOWING YOUR
MARKET VALUE
What your skills are worth in the job market?
Why is this important?
• Estimate earning potential
• Know what you bring to the table
• Helps guide you to a position that is a “good fit”
• Assist with negotiating salary
• Understanding what skills, credentials, education, experience you need
• Advocating for opportunities; i.e., promotions

7. WHAT FACTORS DETERMINE YOUR
MARKET VALUE?
Level of Education Occupation Type of Education or
credential
Relevant Experience
Technical Skills Skills Previous Salary Earned Location
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8. T h i n k A b o u t I t …
WHAT CAN HAPPEN IF YOU ARE
NOT AWARE OF YOUR MARKET
VALUE?