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Generally, a labour market is made up of three major components known as the demand for labour, supply of the labour and the price of the labour. Demand for labour involves the demand by employers in both private and public sector for semi skilled workers. Supply of the labour represents the total number of workers in the labour force each year produced by schools, universities, technical and vocational training institutions in both state and private sectors. Price of the labour refers to the wage rates at
which the labour is supplied and hired in Sri Lanka. It includes labour force, unemployment, labour force participation, wages, vocational training, and characteristics of labour force etc. And it also covers the signals and trends of labour supply and demand in Sri Lanka and overseas. Labour Market Information is important for policy makers in the Technical and Vocational Education and Training (TVET) sector and it is also useful for managers and planners at all levels in the TVET sector. Labour market Information provides valuable information for the carrier guidance and job placement agencies in the country. Employers and employment agencies also find the information available in the bulletin is useful for their activities. Trainees and job seekers will also be benefited by the information contained in the Labour Market Information Bulletin.
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