Labour market

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Labour Market Information is information that acts as a guide in decision-making for career planning and as a motivator for changing careers and education planning. It is very important in helping to finding and keeping a meaningful job. LMI can provide information about information about specific jobs, such as its market. Also, it provides descriptive and statistical information about jobs, for eample, wage rates. Moreover, this is part of the life-long career planning process. As each individual learns more about the labour market, it can help them to maximize their participation in the work force.There are many things which influence the future labour market trends. First, innovations in technology affect the market because it can transfer jobs from one sector to another and also create more jobs throughout society. Second, is the demographic changes. This can provide information of where there will be job openings. Many jobs are being lost or opened to meet the needs of consumers. Last, econmic and political factors can impact labour markets because they control things like export of goods and inflations. These factors all lead to changing the future market labour trends.There are many skills that will be needed for success in the labour markets of the future. Firstly, career developing skills are needed because they allow you to become more self-reliant and confident with your work future. Secondly, occupation-specific skills are required, as they are needed for particular occupations in order to meet the demands of the market. Finally, employability skills are also important due to the fact that they are the transferable, generic skills that are needed throughout all career and life development activities. In conclusion, career developing, occupation-specific, and employability skills are mandatory for success in the future labour markets.

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