Posted on • Labour Market Information
It’s not surprising that many of us feel unsure and uncertain about the job market and the future of our careers when Covid-19 has affected so many aspects of our working lives. The labour market is ever-changing terrain. Understanding how and why things are changing will help you navigate it, find current and future opportunities and build back your career confidence.
According to Shedding Light on the Labour Market, 2020 saw a 200% increase in remote working, which your OU online learning has given you great experience and skills in.
Even if the term ‘Labour Market Information/Intelligence’ (LMI) is new to you, you’ve probably used it before in job hunting or making career decisions. Applying for a job will inevitably lead you towards LMI as you will find in our Doing your research when applying for jobs page. Put simply, LMI gives you a picture of what is happening now in the jobs market, in the economy, in different sectors, what is impacting on all of these and what research shows it may look like in the future.
The OU’s Careers and Employability Services regularly update you on the latest labour market information in our monthly Careers Express e-newsletter. Our webinars and forums give you the opportunity to engage with employers and professional bodies and provide insights into a range of roles and sectors. You can find LMI for different sectors on the Industry Reports tab of our Abintegro suite of careers tools, which you can access using your OU email address ending in @ou.ac.uk and your OU password.
Find LMI yourself through research, keeping up with the latest news and talking with your OU Family on LinkedIn and our Careers Café. For more information on networking see our LinkedIn guide and networking page.
ISE’s Inside Student Recruitment 2020 shows that only 14% of employers set having a qualification in a specific subject as a minimum requirement for graduate hires.
To develop your own Labour Market Intelligence, an easy first step is to log into OpportunityHub to get an idea of what roles are available, where, and whether that’s changing. You could apply for a virtual internship or placement to gain insight into the sector or employer and expand your network. Use informational interviewing to get your employer or colleagues’ views of their job and sector.
Prospect Luminate’s regular UK graduate labour market update sums up many reports and findings and can give you some ideas on which sectors and areas are leading the economic recovery.
Using LMI not only increases your awareness of the job market but can help in planning your future. With insight into your sector(s) of interest, you’ll be better prepared to choose your career path, the opportunities you go for, modules you study, and more. You’ll also be able to use what you’ve learnt through application forms, cover letters and interviews to demonstrate your commitment and passion for the role.
It may take a little digging around to get the most recent information you need, but if you need any help, our website covers a range of topics and you can always book a one-to-one appointment with one of our professional careers consultants. Careers and Employability Services wishes you all the best in navigating the ever-changing LMI landscape.