“What is labour market information?"

One of the most popular and widely used definitions of labour market information comes from the World Bank. They define labour market information as “any information concerning the size and composition of the labour market, any part of it, the way it or any part of it functions, its problems, the opportunities which may be available to it, and the employment related intentions or aspirations of those that are part of it.”

Another way to define labour market information is to describe how it can be used. For example, it can be used by local Nova Scotia communities to entice companies to move to their area, or by the Workers Compensation Board to assist in their management of individual cases.

Job seekers use it to find out where the jobs are, how much they pay, and where to get relevant training. Job seekers can find that information in the Search Job Profiles section.

Employment and guidance counselors use it as a tool to assist clients in making informed career choices.

Employers use it to gain information in areas such as wages, labour skills and availability of resources and then use that information to inform strategic business decisions.

The labour market = employers + labour force

The Labour force = people have jobs + people looking for jobs

You can use labour market information to answer the following types of questions:

• What kind of work will be available in the future?
• Where are the jobs?
• What skills and training do I need to get hired?
• Where can I open or start a business with the best chance of success?
• What financial or regional trends might have an effect on commercial business operations? 

For a more detailed explanation of what is Labour Market Information, how it is derived, and how it is can be useful, download and view our "Guide to Understanding Labour Market Information" found on our Publications page.