Labour Market Information
What is Labour Market Information (LMI)?
In a nutshell Labour Market Information (LMI) is the name for the facts and figures about jobs and employment regionally, nationally and globally. The information is used to give an overview of past, present and future work. The labour market is the term used to describe the amount of people working and looking for work and the amount of jobs available in different industries.
How can LMI help you with future careers decisions?
LMI can help you to understand:
- Which sectors and jobs are growing or declining
- What qualifications or skills you will need to do a job
- How much you might earn - and how earnings may increase with progression
- What a job involves on a day to day basis
- How your interests and skills are relevant to certain jobs and the employability skills that are valued by employers
- What jobs are available in your region and also nationally
What should you consider when looking at LMI?
Remember, LMI does not tell you what to do. It is also not designed to give you a complete picture or a personal view of the job market, there will always be people with different views and experiences to what the data shows, so you need to do your own research.
LMI does, however, provide a guide to jobs and the job market by looking at trends and averages. LMI can help you to:
- Consider aspects of jobs which you may not have thought about before
- Look at careers from different perspectives
- Ask questions
There are other things you should also consider when looking at LMI.
- The labour market changes - whilst LMI data is as up to date as it can be there is a delay between information being collected and processed
- Figures for LMI are often rounded up or down and are not meant to be precise but offer a guide
- Think about exploring jobs with similar job titles
Regional Growth Sectors for Suffolk/Norfolk
Renewable/Clean Energy - In our region there are currently over 600 business mainly specialising in offshore wind, gas and nuclear energy. This sector contributes £1.4bn to the UK economy. There are over 12,000 jobs in this sector with thousands more employed in the wider supply chain. Planned investment in offshore wind and nuclear power will produce enough power to power more than 58% of UK homes.
Jobs in Renewable/clean energy:
Wind Turbine Technician - Wind Turbine Technicians maintain and repair wind farm turbines on land and also at sea. Average starting salary is around £25,000 rising to around £42,000 for experienced technicians.
Energy Engineer - Energy Engineers research, design and build power generation plants and work in the oil and gas industry. Average starting salary is around £20,000 rising to £80,000 for experienced engineers
Agricultural food - In our region there are currently over 8,000 business in Agri food. This sector contributes £3.5bn to the UK economy. There are over 91,000 jobs in the industry with many more employed in highly specialised sub-sectors within Agri food.
Jobs in Agricultural Food:
Land Based Engineer - Land Based Engineers build, service and repair agricultural, horticultural and forest machinery and equipment. Average starting salary is around £25,000 rising to £40,000+ for experienced engineers.
Agronomist - Agronomist advise farmers on soil management and crop production. Average starting salary is around £20,000 rising to £40,000 for experienced Agronomists.
ICT & Digital - In our region there is currently a workforce of over 24,000 in this sector with a further 35,000 digital technicians and engineers active in companies and other local sectors. ICT & Digital contributes £1.4bn to UK plc.
Jobs in ICT & Digital:
Digital Technician - Digital technical support staff diagnose and solve software and hardware problems for computer users. Average starting salary is around £16,000 rising to around £35,000 for experienced technicians.
Digital Delivery Manager - Digital delivery managers are responsible for the performance of a team and the digital products and services they produce. Average starting salary is around £37,000 rising to around £95,000 for experienced managers.
Careerometer - comparing salaries, working hours, job prospects etc etc
The Careerometer is an excellent tool enabling you to look at and compare salaries, working hours, growth and job prospects for many different careers in the UK. Simple follow the link below.