Labour Market Information (LMI) is information relating to occupations and industries, such as job numbers and salaries in the local area. It can also include a range of more specific details, such as educational levels for occupations, workforce demographics, and numbers of establishments in particular sectors.
The purpose of LMI is to use current and historic industry and occupation data for labour markets, in order to enable us to better understand the trends, structure and demands of those economies. The information is also useful as it can be used to forecast what the future might hold for particular industries, occupations or geographical areas, based on past and current trends.
Such information can be of inestimable value to students and any organisation that are seeking to understand the structure and the possible future of a particular labour market - and will help students and business make better decisions in the future.
- The average number of people in employment in the Tees Valley is 68.8% (the average in the UK is 75.5%)
- The average number of people unemployed in the Tees Valley is 6.7% (the UK average is 4.2%
- 34,000 people in the Tees Valley are self-employed
- The average full-time salary in the Tees Valley is £27,044 per annum (the UK average is £31,364 per annum)
- In October 2022, there was approximately 735 apprenticeship vacancies within a 40-mile radius of Middlesbrough
- In July 2022, there were 23,273 vacancies in the North East
The Tees Valley Strategic Economic Plan has identified 7 sectors that will provide future jobs for young people. These are:
- Advanced Manufacturing
- Process, chemicals, and energy
- Health and biologics
- Digital and creative
- Culture and leisure
- Business and professional services