What is Labor Market Information (LMI)?
Labor Market Information (LMI) refers to a variety of information associated with the supply and demand for workers. This includes data on labor force, employment, unemployment, industries, occupations, skills, wages, etc.
Why is it important?
Labor Market Information can assist individuals who wish to investigate career paths to see if there is growth or decline in specific occupations. Growth indicates an estimation of future jobs in a specific industry. Decline may indicate a difficulty in securing that particular job in the future.
The State of Michigan’s website is the best source of information on the Michigan job market. These sites provide reliable information on recent employment trends, wages, detailed industries, and jobs in demand. It also provides economic material on Michigan regions and counties.