Download - 41 Lmi Concepts, Uses and Methodologies-ppt
-
8/12/2019 41 Lmi Concepts, Uses and Methodologies-ppt
1/14
LMI CONCEPTS, USES andMETHODOLOGIES
-
8/12/2019 41 Lmi Concepts, Uses and Methodologies-ppt
2/14
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
-
8/12/2019 41 Lmi Concepts, Uses and Methodologies-ppt
3/14
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.
-
8/12/2019 41 Lmi Concepts, Uses and Methodologies-ppt
4/14
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
-
8/12/2019 41 Lmi Concepts, Uses and Methodologies-ppt
5/14
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.
-
8/12/2019 41 Lmi Concepts, Uses and Methodologies-ppt
6/14
Importance of Labor Market Information
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.
-
8/12/2019 41 Lmi Concepts, Uses and Methodologies-ppt
7/14
Importance of Labor Market Information
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.
-
8/12/2019 41 Lmi Concepts, Uses and Methodologies-ppt
8/14
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
-
8/12/2019 41 Lmi Concepts, Uses and Methodologies-ppt
9/14
Priority Areas of an Adequate Labor
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
-
8/12/2019 41 Lmi Concepts, Uses and Methodologies-ppt
10/14
Priority Areas of an Adequate Labor
Market Information Program (cont)
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
-
8/12/2019 41 Lmi Concepts, Uses and Methodologies-ppt
11/14
Priority Areas of an Adequate Labor
Market Information Program (cont)
Labor legislation and employment practices
Problems relating to the mobility of labor
Information relating to practices of multiplejob holding
-
8/12/2019 41 Lmi Concepts, Uses and Methodologies-ppt
12/14
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
-
8/12/2019 41 Lmi Concepts, Uses and Methodologies-ppt
13/14
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
-
8/12/2019 41 Lmi Concepts, Uses and Methodologies-ppt
14/14
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