1. Copyright 2010, The World Bank Group. All Rights Reserved. Part 1 Labor Market Information Produced in Collaboration between World Bank Institute and the Development Data Group (DECDG)

2. Copyright 2010, The World Bank Group. All Rights Reserved. What are labor statistics? What are labor economics? Understand functioning and dynamics of the market for labor. Focus of labor economics Supply of labor (workers) Demand for labor (employers) Microeconomic techniquesMacroeconomic techniques Study the role of individuals and individual firms in labor market Look at the interrelations between labor market, goods, money, and the foreign trade market

3. Copyright 2010, The World Bank Group. All Rights Reserved. What are labor statistics? What is a labor market? Interaction of workers and employers Labor statistics Systematic collection and analysis of data describing relationship between labor demand and supply Also referred to as labor market information Critical to understand dynamic labor market

4. Copyright 2010, The World Bank Group. All Rights Reserved. Why do we need labor market information? Users of labor statistics More detail provided on data users in Module 10 of this course Academia Individuals Government Private sector

5. Copyright 2010, The World Bank Group. All Rights Reserved. Why do we need labor market information? Uses General use: Tracking and monitoring economy 1. Policy makers (national, local governments) Develop and review effectiveness of policies to: Reduce unemployment Generate employment Plan/develop training programs

6. Copyright 2010, The World Bank Group. All Rights Reserved. Why do we need labor market information? Uses 2. Industry and business Looking for site locations Attracting and retaining skilled workers Assessing scope and size of potential markets 3. Labor unions Wage and compensation levels Local working conditions Training needs

7. Copyright 2010, The World Bank Group. All Rights Reserved. Why do we need labor market information? Statisticians provide data on the world in which we live Data produced critical to developing countries Statistics enhance decision-making process Tool for making informed decisions and plans

8. Copyright 2010, The World Bank Group. All Rights Reserved. Labor Market Information What is a labor market information system (LMIS)? 1. Data sets which examine the current labor market Unemployment, employment, and other descriptive data Compare demographic groups and geographic regions What jobs are available? What skills are needed in the labor market? What are typical salaries/wages for an occupation?

9. Copyright 2010, The World Bank Group. All Rights Reserved. Labor Market Information What is a labor market information system? 2. Examine changes and trends over time 3. How well is the economy functioning? Assess growth Macro-economic monitoring

10. Copyright 2010, The World Bank Group. All Rights Reserved. Labor Market Information What is a labor market information system? 4. Strategic planning and policy decisions Income support Training programs Employment policies Social programs Respond to needs of labor market 5. Match labor supply with demand Provide data on localities to firms seeking to expand into new locations