Cutting Edge Global Research for Fast-Moving Labour Markets

January 17, 2023 by Elena Magrini

As the global leader in Labour Market Analytics, we are working with organisations across the world to help them make data-driven decisions that genuinely unlock new possibilities in their labour market. In 2022, some of the big challenges they faced included:

  • Understanding the labour market as it emerged from the Covid crisis

  • Identifying trends towards a greener and more digital economy

  • Getting to grips with new challenges caused by the energy crisis and rising inflation.

You can find details of some of our US-focused research here, but we also have a significant research footprint across the globe, some of which we'd love to share with you. Below are just a few of the projects our global research team was involved in last year, where we've supported organisations across the UK, Europe, and APAC as they seek to navigate the changing labour market by harnessing the power of data. Many of these projects can be tailored and adapted for your area, so do get in touch with us if you'd like to find out how we can work with your organisation.

Understanding your local economy

Having a deep understanding of their local economy is key to many of the organisations we work with, with economic development agencies and local government organisations in particular choosing to work with us to identify their areas of strength and shape their economic development strategies. 

For example, we worked with BIG South London and the South London Partnership - a sub-regional collaboration of five London boroughs - to determine the clusters of strengths and opportunities for the area and what they need to succeed. We also worked with the Mid Wales Regional Skills Partnership by providing labour market insights on the sectors of interest to the area and shape their next employment and skills strategy. 

Analysing the impact of macro-economic trends to the labour market 

With the global economic outlook changing so rapidly, organisations are also interested in understanding the implications of macro-economic trends on local labour markets - the impact they have on the economy as well as the skills needed to adapt to these changes. In Europe, we worked with Intellera and the Italian agency, ARTI, to look at the impact of the digital transition on a number of key sectors for the Made in Italy industry in the Apulia region. In the UK, we forged a partnership with WPI and the Data City to help local government agencies across the UK understand how the green transition is affecting their local economies, and we also provided insights to the UK’s Department for Transport to monitor how the aviation industry has been recovering from the Covid crisis.

Having real-time insights on the labour market

Alongside having a snapshot of the current state of the economy, many of the organisations that turn to us are interested in closely tracking changes in the labour market. This helps them quickly identify threats and opportunities in their local area, as well as the most in-demand skills, providing guidance and support to residents looking for work.  

To support them, we have provided interactive dashboards with near real-time insights on the labour market. For example, at the local level, we worked with two Spanish local economic development agencies - in the Basque country and in Cataluña - by creating a Talent Observatory tool. We also collaborated with international organisations such as the European Agency, CEDEFOP, by providing the latest labour market insights using job postings data.  

Identifying the needs of a changing workforce

Another key question we often get asked is about the changing skills needs of the workforce. Professional bodies and businesses want to know how demand for skills related to their roles is changing to improve their recruitment pipeline, upskill the existing workforce, or shape the policy debate. 

In APAC, we worked with the Australian Computer Society on a report designed to assist IT professionals in their career journeys, using data to highlight in-demand roles, skills required, wages on offer, education and experience requirements, and who the top employers are. In Italy, we collaborated with the Treviso and Belluno Chamber of Commerce to identify the skills needed for high-demand occupations in the Veneto region - such as IT specialists, sales and marketing professionals and supervisory roles in advanced manufacturing in the region. In the UK, we worked with EngineeringUK to explore the changing skills needs of the engineering profession in the UK.

Aligning course provision to labour market needs

For education providers, a burning question is often how best to align course provision to business needs. This is particularly important because it helps them ensure their curriculum or programme is relevant, in turn maximising the employability outlook of their students. With this particular goal in mind, we worked with a number of education providers and agencies to answer these questions.

In the UK, we provided insights on regional labour market outcomes for apprenticeship courses at the University of Derby, and also supported Middlesbrough College to better understand how their offer compares to local demand for jobs. In Italy, we worked with the University of Padua and the University of Trento to assess how their courses align with current demand, as well as with ART-ER to provide skills insights in the Italian region Emilia-Romagna, which will be used by education providers to update curriculum planning and support upskilling and reskilling initiatives. 

Let us help your organisation in 2023

As we turn our attention to 2023, we have many exciting projects already in the pipeline, some of which we'll be sharing in due course. We'd also love to work with your organisation, helping you to rise to the challenges you are facing, and ultimately enabling you to unlock new possibilities in your labour market. To find out more about how we can help, contact us today.