Updated: Nov 15
The world of work can be complex to navigate. When it comes time to making decisions about your career planning, it’s so important that you have access to quality Labour Market Information (LMI), to obtain information that’s going to assist you in making informed career decisions. You may be thinking about pursuing a particular career path that you have an interest in, but want to explore certain factors such as:
Is this sector / profession in growth or decline?
Is employment in this profession strong in my geographical location?
What is it like to work in this job?
What skills, knowledge and training will I need to get a job like this?
This is where accessing quality LMI can provide you with the information you need to help support your decisions.
What is Labour Market Information?
LMI is a range of information and data that comes from a multitude of sources, and informs you about many areas of the labour market. This may include past and current trends, as well as future projections, what occupations exist, what opportunities are in growth or decline, what you need to study to open a pathway to a particular occupation, what is required and what it’s like to work in that occupation, and how can you find jobs. The information sourced may include data about the local, national and international labour markets.
Why is LMI important in career development?
LMI is important because it provides you with a reference framework for your career development and decision making. There are many common questions that we want answers for when career planning. Apart from the questions already explored above, further questions may include:
What are the remuneration levels like for particular role?
What are the typical recruitment and selection processes like for an occupation?
What are graduate outcomes for particular courses?
What are working conditions like?
What will the jobs of the future look like, and which jobs may no longer exist?
The other thing that’s important to consider when sourcing LMI, is the quality of the information and its relevance to you. LMI can change very quickly, so it’s always useful to access up to date information, and make sure you are accessing the information from trusted reliable sources. You also want to ensure that the information is free from bias, to allow you to make better informed decisions.
Below are some of my ‘go-to’ sources of LMI which you may also find useful:
Labour Market Information Portal This site brings together data from a range of official sources to help you understand the labour market.
National Skills Commission Provides data and insights on Australia’s labour market, workforce changes, and identifies current and emerging skills needs.
An annual publication which provides an overview of Australia’s diverse labour market, including content to explore industries, occupations, geographical locations, future trends, training pathways and job search direction.
Job Outlook Provides information about careers, labour market trends and employment projections. It also has a career quiz to help you identify what type of work you most like doing, and the Skills Match tool which will identify jobs and careers that match your skill set.
Provides excellent resources to explore career pathways and tools to develop self-knowledge to help with career decision making.
A valuable site providing access too many career resources including tools to explore career options, learning and training options, getting job ready, and career support services.
An online database of Vocational Education and Training options, including information about providers, courses, outcomes and fees.
This site allows you to search and compare courses from different higher education institutions across Australia, including entry requirements.
Provides information on apprenticeships and traineeships, including factsheets and links.
This site provides information to help people plan, start, or run their own business, and includes valuable resources.
Helps you to understand your rights and responsibilities at work.
LMI can be complex, and career practitioners play an important role in helping you understand and navigate LMI to support you in your career planning.
I would love to help you navigate your career journey.