The body of information that deals with the functioning of labor markets and the determination of the demand for and supply of labor. It includes, but is not limited to, such key factors as changes in the level and/or composition of economic activity, the population, employment and unemployment, income and earnings, wage rates, and fringe benefits.
The body of data available on the particular labor market, including employment and unemployment statistics, occupational statistics, and average hours and earnings data. LMI is also used to refer to the statistical research and analysis offices of the State Employment Security Agencies. These offices are also referred to as Research and Analysis (R&A) or Research and Statistics (R&S) offices.