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Analyze Local Labor Market Conditions

Review how to conduct a labor market analysis.

Conducting a Labor Market Analysis

This is the process by which relevant labor market information is identified, gathered, assessed, and understood. Labor market information is all data related to employment and the workforce, such as:

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  • Size and characteristics of the labor market, including the unemployment rate and labor supply and demand.
  • Job trends and requirements by industry and occupation.
  • Industry size and growth.
  • Earnings by industry and wages by occupation.
  • Demographic characteristics of the workforce (including educational attainment) by industry and occupation.
  • Real-time job posting data.


Using This Tool: Key Questions

Who should use this tool?

Any organization or individual seeking to understand local labor market conditions, particularly local workforce system organizations, employers, workers, and job seekers.

What does this tool help you achieve?

Thorough understanding of the local economic conditions that affect the labor market, such as dominant industries and occupations in a region, available educational pathways, cost-of-living-adjusted wages, and workforce demographics.

When should you use this tool?

Observe Phase

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