Labour Force Barometer
The Labour Force Barometer aims to produce high-quality and comprehensive short-term information on labour and competence needs for different operators.
Previously, information on labour needs has been published in the Occupational Barometer, which will be replaced by the Labour Force Barometer in autumn 2023. The Labour Force Barometer provides a more comprehensive outlook on the labour market and its needs, because it examines not only occupational titles but also competence needs. Another new aspect is the sectoral approach, which provides a more accurate picture of labour needs.
Labour Force Barometer is useful for citizens, employers, educational institutions and decision-makers
Citizens planning their careers can use the Labour Force Barometer when considering their place of residence or educational choices. The regional perspective helps in comparing the labour market situation in different regions, while the professional perspective provides information on the situation in different sectors. Employers can use the barometer to plan their recruitment strategy and to make investment decisions. Information on the labour market situation helps companies maintain and increase their competitiveness. Educational institutions and providers will obtain information on the kind of education that should be organised to meet the needs of the labour market. The Labour Force Barometer helps in the design of training programmes that are in line with the labour market requirements. Decision-makers can use the information provided by the Labour Force Barometer to support their decisions. With the help of information, resources can be allocated to those areas and sectors where they are needed most.
Data collection for the Labour Force Barometer
The main source of information for the Labour Force Barometer are the views of regional experts concerning near-term needs.
The data collection consists of
- a statistical viewpoint,
- regional discussion events in the Centres for Economic Development, Transport and the Environment (ELY Centres), and
- sector-specific workshops.
Local ELY Centres are responsible for production of information and regional practices.
Based on the discussion events, the ELY Centres will produce estimates of the demand and supply of labour for the next year. The barometer will describe the matching between labour demand and supply on the basis of these estimates.
The matching is divided into four sections:
- Labour balance
- Labour surplus
- Labour mismatch
- Labour shortage
The severity of the last three sections is assessed on a four-step scale. The estimates are produced for the ELY Centre areas and selected sectors. The matching situation between labour demand and supply in sectors where no estimates have been produced is based on statistics, as currently.
Data collection for the Labour Force Barometer will be carried out in accordance with the new model for the first time in autumn 2023. Due to the new method, sector-specific data will be less comprehensive in autumn 2023 than in the future. In autumn 2023, the Labour Force Barometer will focus on the technology industry and the health and social services sector.
Reino Savolainen, Senior Specialist, Ministry of Economic Affairs and Employment, tel. +358 295 047 268, [email protected]