What Is Labor Market Research

Labor market analysis is the process of: … Surveying the market to determine the salaries that are being paid for like positions. Identifying market trends such as: ancillary pay, and merit and pay practices. Establishing, adjusting, and/or recommending salary changes and/or structures for staff positions.

What is a Labour market research?

What is Labour Market Research? … Labour Market Information (LMI) can be broadly defined as the information needed by individuals and organizations to make informed decisions about the labour market. Labour market information address questions concerning the following: Unemployment rates. Economic trends.

What are examples of labor market information?

• The expected number of job openings.
• How much a given job pays.
• Working conditions.
• Knowledge, skills, and interests applied.
• Related jobs and training.