The labor market is where workers and employees interact with each other. There, employers compete to hire the best talents, while talents compete for the best satisfying job. The labor market refers to the supply and demand for labor. Employees provide the supply, and employers create the demand.
Labor market information (LMI) is any quantitative or qualitative information on the labor market. It assists students, professionals, and jobseekers in making wise career plans, choices, and decisions. LMI provides information on the demands of the industry (for example, in-demand, hard-to-fill, and emerging jobs) within a given period to help talents decide what training or degree program to pursue.