Tips | Labour Market Information (LMI)
1. What is Labour Market Information (LMI)?
LMI includes information related to:
- Trends and conditions in particular industries or the local economy
- Forecast of occupational trends and the needs in particular industries
- Organizations within an industry sector
- Education, qualifications, experience and skill requirements for specific jobs
- Salary information
- Profile of the labour force (age, education, gender, ethnicity, etc.)
LMI has three components:
- Demand (the jobs available)
- Supply (people available to do the jobs)
- Forces affecting the labour market (e.g. legislation)
Questions to ask?
- Is there a demand for my skills, experience, and qualifications?
- What skills, education, and experience are employers seeking?
- What trends might impact the future of this type of work?
- Is this field likely to grow, decline, or shift?
2. How LMI Can Help You - Explore Careers
- Once you have identified your interests, skills, personal preferences and values, you can start researching ‘career areas.’
- This can involve using LMI to observe trends and employability of various professions that match your career goals. E.g. has the employment rate for occupations related to Education gone up or down over the last few years? Is there a trend or forecast?
3. How LMI Can Help You Find Employment
Once you begin searching for work, an effective strategy would involve researching the job market and specific organizations i.e. gathering LMI to find which organizations/industries are growing and then using employer directories to develop lists of contact information.
For example: which cities in Ontario employed the most individuals in the Educational services sector, and a list of those organizations?
Another Example: whether teachers were employed more/less in the junior, primary, or intermediate level?
4. How LMI Can Help You Pursue Further Education
Once you decide to pursue further education, either towards a graduate or professional degree, it may help to research the demand for graduates from your selected program, particularly in the case of specialized professions.
For example: the employment rate of Speech-Language Pathologists or MBA students?
Where can you find this Information?
Professional Association and industry directories (eg. Environmental, Pharma, Biotech)
Newspapers, magazines, and newsletters (e.g. Job Postings, The Economist)
The above resources can be found at the Career Centre Library (eg. in the Directories section).
Online Sources: (Canada)
UTM Career Centre Website
Visit the Career Centre website: www.utm.utoronto.ca/careers, then go to Career Exploration to
find industry reports and labour market information https://www.utm.utoronto.ca/careers/career-planning/career-exploration
Career Cruising is a valuable Canadian resource with extensive information about careers and related resources (working conditions, earnings, education and related careers). You can access Career Cruising using the Resources Link on the Career Learning Network.
City of Mississauga. This website provides an overview on the major sectors operating in Mississauga including links to other helpful resources such as educational programs and job prospects.
Professional Associations. List industry and professional associations by sector
Find out if your industry of choice has a sector council. The article contains information on sector councils and a list of links to specific sector councils near the bottom: www.workforceinnovation.ca
Government of Ontario: Ministry of Advanced Education & Skills Development. This website provides current trends and future outlook for various kinds of jobs, as well as current Ontario labour market information.
Job Bank is a federal site that allows users to job search and explore labour market information.
This Government of Canada site includes projections of future hiring trends for nearly 300 occupational groups across the workforce. The latest projections cover the 2015 to 2024 period.
Detailed industry reports for Canada, US and globally. Browse reports by industry sector or company.
Salary Information (Canadian)
Job Bank – Explore Careers by Wages
PayScale – Salary Reports
- click on “Get a free salary report”
- The tool generates a personalized pay snapshot, based on years of relevant work experience, primary responsibilities, education, city, type of employer, and more.
- Career Research
- Salary data for existing jobs (select from a list)
Glassdoor - Search salaries and compensation at thousands of companies. Select Salaries.
VAULT Guides: This online library provides information on employers, educational programs and industries, salary information, employer surveys and job-search advice. Access this site through the Career Learning Network (Resources)
Occupational Outlook Handbook (Bureau of Labor Statistics): This resource measures U.S. labour market activity, working conditions, and price changes.
Please note that this information is subject to change. It is best to refer to the original sources for the most up to date information. Updated August 2021.