Labour Market Information (LMI): How to Support Jobseekers in Navigating LMI

As career professionals, we can better guide our clients through the ever-changing landscape of the Canadian job market using tools and labour market information. Understanding labour market information (LMI) is essential for career professionals and the jobseeking clients we serve across Canada, as it can impact career planning, growth, personal and professional decisions, and employers’ decisions. We can help clients learn about current LMI, and how to navigate it, by supporting them in these areas:

1. Career Planning
2. Job Search
3. Decision-Making
4. Economic Planning
5. Education & Training
6. Wage Negotiations
7. Business Expansion
8. Community Development

Staying updated about local labour market trends and gaining different insights is a strategic approach for individuals, businesses, and policymakers, enables our clients with decision-making, promotes economic growth, and aids the overall well-being of a community.

Current Canadian Labour Market Information

As of January 2024, Statistics Canada reports that the unemployment rate in Canada was 5.7%, the working population was 21,586,900, the average weekly earnings were $1,228.07, and the job vacancies were 855,8901.

According to the Occupational Projection System, the occupations with the highest number of projected job openings from 2023 to 2025 are retail salespersons, registered nurses and psychiatric nurses, administrative assistants, food counter attendants, kitchen helpers, and related support occupations.

The sectoral profiles show that the industries with the highest growth rate from 2019 to 2020 were health care and social assistance, public administration, and professional, scientific, and technical services, while the industries with the lowest growth rate were accommodation and food services, transportation and warehousing, and arts, entertainment, and recreation.

The HRDC Job Bank website offers various tools and resources to help career professionals and job seekers explore the Canadian LMI, such as job profiles, wage reports, outlook reports, sectoral profiles, job market snapshots, and news articles.

According to Robert Half, changing economic conditions are forcing workers and employers to reassess compensation, career priorities, and recruiting strategies. Thirty-five percent of workers admit they will search for a new job if they do not receive a raise. Some considerations include:

• Flexible work holds weight. Seventy-five percent of workers cite flexible work schedules as the top perk they want in a job, and nearly half (49%) now feel that a hybrid schedule is the ideal work structure. Separate Robert Half research reveals that 60% of workers would rather stay in a job with flexible work options than accept a position with higher pay but rigid in-office requirements.
• Companies are poised to pay more for top talent. Ninety-two percent of hiring managers face challenges hiring skilled talent, and as a result, 40% of employers plan to increase starting salaries in 2024 to attract and keep highly skilled workers. In addition, 39% said they are adding new perks and benefits.
• Salary transparency offers a hiring advantage. More than 50% of hiring managers said that including salary information in job postings helps attract qualified candidates (55%) and saves time in the interview process (54%). Workers also want pay transparency, and 63% said they would not want to be considered for a certain role if salary ranges are not provided upon request.
• Negotiation pitfalls are common. While more workers negotiate salaries, additional Robert Half research shows that nearly half (47%) admit to making a salary negotiation mistake, the most common being accepting too low of a salary for their skills and experience (30 percent).

Currently, in 2024, economic uncertainty and the high cost of living pose top concerns for professionals, resulting in the high prioritization of salaries.

Ten Tips: How to Guide Clients in Using LMI

Stay Informed about Industry Trends

As career development professionals, we need to stay abreast of industry trends, emerging sectors, and marketable skills in demand within the Canadian job market. This data can help them guide job seekers toward areas with better prospects.

Skill Development and Training Opportunities

 Identify and promote training programs or certifications aligning with employers’ needs. Encourage jobseekers to acquire new skills or upgrade existing ones to remain competitive.

Remote Work and Digital Skills

With the rise of remote work, career professionals need to help jobseekers develop or enhance their digital skills while also building strong alliances. This includes online collaboration tools, project management software, and other technologies relevant to their industries.

Networking and Online Presence

Stress the importance of in-person and online networking. Guide clients on building a strong professional online presence through social media platforms, like LinkedIn. Networking can provide valuable insights, referrals, and job opportunities.

Resume and Cover Letter Customization

Assist jobseekers in customizing their resumes and cover letters to the specific requirements of each job application. Highlight the importance of showcasing relevant skills and accomplishments and enlisting professional career support in creating a compelling resume package.

Adaptability and Flexibility

 Encourage jobseekers to be adaptable and embrace different opportunities. The labour market can be dynamic, and being flexible regarding roles, industries, and locations can enhance one’s chances of finding employment.

Mental Health and Resilience

Acknowledge the challenges of job searching and provide resources or referrals for mental health support. Maintaining a positive mindset and building resilience are crucial during the jobseeking process.

Government Programs and Resources

Stay informed about government programs and initiatives that support job seekers. Share information about unemployment benefits, training subsidies, and other resources available at the federal and provincial levels.

Customized Guidance

Provide personalized advice based on each individual’s skills, experience, and career goals. Tailoring guidance to the specific needs of the jobseeking client maximizes career development support.

Continuous Communication and Follow-Up

Establish ongoing communication with jobseekers to provide support throughout their job search journey. Regular check-ins and follow-ups can help address challenges, celebrate successes, and make required career development plan changes.

Providing accurate LMI to our clients can help us guide them in their career planning, job search, decision-making, and other areas. For best results, stay up to date with Canadian LMI by using reputable government sources, such as Job Bank Canada, Statistics Canada, and Labour Market Information Council.

CPC offers its members a comprehensive Career Development Practitioner (CDP) certificate program, national certifications, and a comprehensive array of courses, webinars, and support groups. Our Complimentary Leadership Series Webinar – Labour Market Insights offered on February 21 at 1 pm EST, will help you learn the best practices from Canada’s industry leaders and allow you to network and share ideas.

Lori Jazvac is a passionate, award-winning Master Certified Résumé Strategist and Certified Employment Strategist through Career Professionals of Canada. As a multi-certified Master Résumé Writer and Certified Career Transition Coach, she specializes in helping clients navigate challenging career transitions. In 2013, an empowering vision inspired Lori to launch Creative Horizons Communications, a holistic career services firm where she virtually supports jobseekers around the globe to embrace their next career milestone.

Ksenia Lazoukova is a dynamic adult educator and Learning Facilitator with the Immigrant Services Association of Nova Scotia. She designs, develops, and facilitates employment readiness curricula and workshops for skilled newcomers to Nova Scotia to help them obtain professional jobs in their industries. Ksenia is a Certified Career Development Practitioner (CCDP) through the Career Development Association of Nova Scotia. She also holds the Career Development Practitioner (CDP) designation from Career Professionals of Canada (CPC), having successfully earned all five of CPC’s certifications: Certified Résumé Strategist, Certified Career Strategist, Certified Employment Strategist, Certified Interview Strategist, and Certified Work-Life Strategist. Ksenia is a proud CPC member and active volunteer for the association.