The Canadian Advisory Panel of Labour Market Information defines Labour Market Information (LMI) as:
"..knowledge, facts, data and relevant institutional information on the supply and demand of the various different types of labour services (employment), including prices such as wages and other forms of compensation as well as quantities both at the detailed and aggregate levels that is used for analysis and decision making."
In other words, labour market information includes any data, qualitative or quantitative that pertains to the enhancement of the economy through labour market development.
LMI impacts all the participants in the labour market. In general, students require LMI to guide first careers and employees utilize LMI to develop better career skills and access opportunities in specific geographic areas. Employers and Governments need LMI to recruit the best employees and for effective and informed policy decisions.
For more information and a detailed description on Labour Market Information please visit the Advisory Panel on Labour Market Information website and review their Consultation Document.