Why knowing the current labour market will help you

If you are interested in finding out what previous graduates have gone onto do after graduation, it might be worth exploring some of the labour market information (LMI) which is collated from research carried out about the workforce.

This provides information concerning the current employment situation, regional and local trends such as earnings, unemployment and skills shortages.

It can be used to identify work opportunities that are suitable for you depending on your individual circumstances, and is a good starting point for your career planning and job search taking into consideration factors which are most important to you such as:

• Location: where do you want to work, are you prepared to relocate?
• Salary: how important is this - do you have financial commitments which will be affected by this?
• Sector: do you have a preference? Are there vacancies for graduates with your degree subject?

What will Labour Market Information tell me?

• What skills employers are looking for
• Which industries are hiring
• Where to find employers who are currently recruiting
• What working conditions are like for specific industries
• What factors can stop you from getting a job
• Which job areas are growing in the future

Information regarding local economic development is provided by Luton Borough CouncilThey provide a number of documents to download which cover some of the points listed above.

Resources

• NOMIS - a web-based database of labour market statistics run by the University of Durham on behalf of the Office for National Statistics.
• Office for National Statistics - official labour market statistics; although this data does not relate specifically to graduates, it is useful for researching employment statistics in a specific area/location
• National Guidance Research Forum - LMI Future Trends - research project set up by Warwick University and partner organisations with sector information relating to future changes in the labour market
• The Sunday Times 100 Best Companies - the best companies to work for, whether they be big; small or not for profit!