The Story LMI Tells About the Workforce in Your Alberta Community
It can be tricky to understand what the true picture of a community’s economic prosperity looks like. It is every government’s aim to create more jobs than its predecessor, and no community wants to advertise its job losses. That’s where labour market intelligence (LMI) comes in. LMI tells the rest of the story: the facts that separate the misconceptions from the actual economic status of a community.MDB Insight has collected data that tells a story about Alberta’s job growth. For example, in 2018, growth in Alberta was strongly concentrated in urban centres. Calgary, Edmonton, and Grande Prairie alone accounted for 86% of that economic growth. Meanwhile, hiring somewhat declined in Fort McMurray and Cold Lake. Also, almost half of all labour supply growth was in only two occupations: sales and service jobs (NOC 6) and trades and transportation (NOC 7). During this time, workers in natural and applied sciences (NOC 2) dropped by 18.5%.
What does this tell us? This data tells us where the jobs are in the Alberta labour market in the same year that we go looking for it. This isn’t data from two or five years ago. This is now!
It’s worth mentioning that not every community matches provincial and (especially) national hiring trends. Just because a certain industry is on the rise in one part of the country doesn’t guarantee its success in another. The only way to know for sure if your community is an outlier from the trends, or is matching them exactly, is with accurate, real-time, community-specific data.
Data needs to be accurate for obvious reasons: province- or nation-wide data that is too generalized can have you aiming in the wrong direction. Also, it’s important to have real-time data. There are many places one can gather accurate workforce data if one is willing to wait long periods of time, but community leaders and development officers know that it’s not always possible or prudent to wait for these slower sources of information.
Community-specific data is important. Data that is too general might not actually apply. As shown above, just because growth is happening in Edmonton doesn’t guarantee that Cold Lake has the same growth, even though they’re in the same province.
Get Accurate LMI That Is Specific to Your Community
MDB Insight, in partnership with Vicinity Jobs, has developed two workforce-data solutions that can help you get the data you’re looking for. The Regional Labour Demand Report™ provides full-time monitoring of online job postings in your area, while the Regional Labour Supply Report™ delivers data on the career and educational backgrounds of employees in your community.