41 lmi concepts, uses and methodologies-ppt

8/12/2019 41 Lmi Concepts, Uses and Methodologies-ppt

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LMI CONCEPTS, USES andMETHODOLOGIES


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LABOR MARKET DEFINED

A set of economic institutional

relationships within which employersrecruit workers and where workers seekemployment.

It is not necessarily a physical placebut rather a general setting for theoperations of labor demand and supply


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Labor Market Information (LMI) Defined

Anypart of the labor market, the way it orany part of it functions, its problems, theopportunities which may be available toit, and the employment relatedintentions or aspirations of those whoare part of it .

In simple terms, LMI is the organization and thepresentation of facts, statistical and otherwise,arising out of the functioning of the labor market.


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Importance of Labor Market Information

The importance of LMI is gauged from theprincipal uses for which such information

is produced:1. Jobseeker

- Information on vacancies, hiring require-

ments of industries, wages and compensa-tion and other related information will guidethe jobseeker in his search for employment


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Importance of Labor Market Information.

2. Labor Market Facilitators (EmploymentService Officers/Placement and

Personal Officers)

-familiarity with hiring requirements ofemployers and qualification/characteristicsof jobseekers will guide employment serviceofficers in the effective matching of men andjobs.


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3. Employment Guidance Counselors

Make use of labor market informationin their effort to give meaningfulemployment counseling to jobseekers

and would-be-entrants to the laborforce.


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4. Government Planners and Policy makers

Rely on LMI in making more meaningfuland effective employment and manpower

policies and vocational guidance andtraining programs

5. Workersand Employers Organizations- Rely on LMI in manpower planning withinfirms and in monitoring industrial trendsand changes.


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Priority Areas of an Adequate Labor

Market Information Program

Common types of labor market information

1. Basic Statistical Information

Total population Total Labor Force- Employment- Unemployment- Underemployment

Labor Shortages- Unfilled vacancies- Hours worked

- Multiple job holders


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Market Information Program (cont)

Migration

Education and Training

- School/University Population- Enrollment in Vocational Training

Institutions

- Apprentices and Learners

Wage rates and earnings Work stoppages

Productivity


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Common types of labor market information

2. Non-statistical (Qualitative Information)

Employment problems that areparticularly

acute for specific categories of workers

Employment problems related to the

recruitment, retention and effectiveutilization of manpower

Information on the function and adequacyof educational and training programs


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Labor legislation and employment practices

Problems relating to the mobility of labor

Information relating to practices of multiplejob holding


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Essential Aspects of Labor Market

Information Program

1. Should be sufficiently COMPREHENSIVE for thepurpose for which it is intended

-must be able to provide a realistic assessmentof the major over-all current manpower andemployment pattern, trends and problems

2. Information should be sufficientlyUP-TO-DATE for thepurpose for which it is intended

-should be collected and analyzed on a regularbasis


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Essential Aspects of Labor Market

Information Program

3. Should be AVAILABLEto the users, when it isrequired by them and in the form in which it is

required

4. Should make use of all the RELIABLEinformationavailable

5. Should have the CONTINUOUS SUPPORT andDIRECT INVOLVEMENT of all major producers andconsumers of labor market information


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The Generation and Collection of

Labor Market Information

Common Methods of Data Collection

1. Censuses2. Sample Survey3. Administrative Records4. Registration Requirements for Certain Sectors5. Legislative Provision Requiring the Collection of

Specific Information6. Econometric Models for Manpower and

Employment Forecasting7. Special Studies on Interrelationships in the

Functioning of the Labor Market

41 lmi concepts, uses and methodologies-ppt

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