Labor Market Information

Career choices should consider talents and passions; however the economy determines income and job openings.  It is a high-risk decision to select and prepare for occupations with very limited career opportunities.  Be mindful of labor market information.

What do you need to know?

Labor Market information provides:

  • Education and training requirements
  • Projected job opportunities
  • Wage information

Up-to-date labor market information about occupations, training requirements and wages is crucial in order to make important life decisions about career goals. Labor market information is based on data gathered directly from employers, business and industry. The cost of time and education compared to the amount of entry wages is a big consideration before making decisions.  Labor market information can help provide reasonable expectations of job openings and wages when entering work.

Career goals fall short if there are no job opportunities. During the career development process, individuals need to consider the labor market. The reality is, sometimes career dreams and goals may need to be modified to fit the economy and labor market demand.

What is Labor Market Information (LMI)?

The Nebraska Department of Labor (NDOL) collects and disseminates data about employment levels and trends, wages and earning, estimates of labor availability, industrial and occupational projections, business staffing patterns, career planning information and labor force demographics. This data is used to describe a local area’s economic picture which impacts social, fiscal, technological and economic policies, employer hiring and other business decisions, allocation of funds by policy makers, individual career choices and educational programs.

Updated January 22, 2024 8:41am