LMI Terms and Definitions
The following common terms and definitions will help educators, students, and families better understand and utilize labor market information (LMI):
Employment level shows how many jobs exist now in a given career and may indicate how many opportunities might realistically be available.
Hot Jobs are projected to have high growth and also meet the following criteria:
- Median salary is above the state median.
- Percentage change is greater than the state average.
- Has the most projected openings.
Job demand refers to how many workers employers want now and in the future.
Job outlook generally refers to how many jobs are expected to be available in an occupation over a future period, usually combining projected growth (new jobs) and replacement needs (jobs from turnover).
Projected openings refers to the projection of jobs that will be available each year through a combination of both newly created jobs and jobs available due to separations. Separations reflect people who are leaving the labor force or moving to a different occupation (turnover).
Projected growth provides an estimate of how much the number of jobs in an occupation or industry is expected to increase or decrease over a set time period.
Salary range gives students an estimate of earnings in entry level through an experienced high level job for each occupation listed . However, it is important to help students understand that many factors can influence what people are paid in their job . These factors can include, but are not limited to, geographic area, educational attainment, and skill-level.