“Labor market information (LMI) includes all quantitative or qualitative data and analysis related to employment and the workforce. The goal of LMI is to help (people) make informed plans, choices, and decisions for a variety of purposes, including business investment decision making, career planning and preparation, education and training offerings, job search opportunities, hiring, and public or private workforce investments.” 1
When it comes to exploring occupations, LMI helps you discern:
- If there are or will be jobs in a given occupation
- How many job openings there are (on average) – and how that varies depending on where you live
- How much you can make per year (on average) – and how that varies depending on where you live
- What education and/or training is needed to get a specific job
- What career goals will be the most satisfying and supportive
- What career path(s) can lead to your career goals
This handout provides more information on what labor market information is and how it can be used to help you achieve your career and financial goals.
The mass.gov website offers a vast array of LMI research tools including information on wages, short-term projections, and long-term projections. Be sure to select Franklin/Hampshire WDA from the geographic area drop down list and hit the “Go” button to produce results.
Using Department of Unemployment Assistance data, tableau public creates a table and bar graph to show where the most jobs are in the Franklin/Hampshire WDA (or Massachusetts if selected), how many job opening there are on average, and the mean wages for each occupation listed.
These posters designed by the Federal Bureau of Labor and Statistics provide great summaries of labor market of information.
The Blueprint guides the work of regional partners to address talent gaps and needs by using labor market and workforce data to conduct evidence-based research.