1 / 16

Labor Market Information Program

Labor Market Information Program. Labor Market Statistics Center. Objectives. Introduction to the Labor Market Information (LMI) program Overview of: Definitions Mission Products / Data Series Customers. What is LMI?. Labor force, employment, unemployment, unemployment rates

medea
Download Presentation

Labor Market Information Program

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Labor Market Information Program Labor Market Statistics Center

  2. Objectives • Introduction to the Labor Market Information (LMI) program • Overview of: • Definitions • Mission • Products / Data Series • Customers

  3. What is LMI? • Labor force, employment, unemployment, unemployment rates • Employment and wages by industry and occupation • Employment projections by industry and occupation • Other • Population demographics • Education and training data • On-line job ads

  4. Mission • The LMI program mission is to produce, analyze, and deliver timely and reliable labor statistics to improve economic decision-making

  5. LMI Produced / Delivered • Labor Force • Total Employment • Employment by Industry and Occupation • Employment Projections by Industry and Occupation (Demand) • Unemployment/ Unemployment Rate • Wage by Industry and Occupation • Census / local employment dynamics (LED) • Education / training data and on-line job ads

  6. Who are Customers of LMI? • Workforce / Economic Development Decision-Makers • Employers / Job Seekers • Education / Welfare Planners • Career Counselors / Teachers • Economists / Policy Makers • Elected Officials • Media

  7. LMI Facts • Data collected under Federal/ State Cooperative Statistical Programs • Data comparable nationwide for all counties and metro areas • Data meet stringent probability sampling design statistical methods with required response rates of 75 percent • Monthly data release dates by county and metro area are 3 weeks after the reference month

  8. What Are LMI Data Definitions? • Labor Force is employment plus unemployment • Employment is all those 16+ that work one hour or more for pay or profit (during the survey reference week ) or 15 hours without pay in a family enterprise • Unemployment is all those 16+ without a job (during the survey reference week) but are available and actively seeking work during the previous four weeks • Unemployment rate is unemployment divided by labor force

  9. Unemployment Rates, Florida and the United States – Recessions 1974 – 2012 Source: U.S. Department of Labor, Bureau of Labor Statistics, Local Area Unemployment Statistics Program in cooperation with the Florida Department of Economic Opportunity, Labor Market Statistics Center, released June 15, 2012.

  10. Nonagricultural Employment by Industry,Florida Source: U.S. Department of Labor, Bureau of Labor Statistics, Current Employment Statistics Program, released June 15, 2012. Prepared by: Florida Department of Economic Opportunity, Labor Market Statistics Center.

  11. Wages by Industry, Florida Source: Florida Department of Economic Opportunity, Labor Market Statistics Center, Quarterly Census of Employment and Wages Program. Released October 2011.

  12. Fastest-Growing Occupations*Florida, Forecast to 2019 Source: Florida Department of Economic Opportunity, Labor Market Statistics Center. Released October 2011.

  13. What Is the Most Common Misconception Concerning LMI? • That the count of unemployed consists only of Unemployment Compensation (UC) claimants (WRONG!) • Note: The number of the unemployed is a broader concept and a larger number than just UC claimants. The unemployed do not have be eligible or claiming UC benefits; instead they must just be seeking work. The unemployment rate is not the UC rate.

  14. What Are the Types of Unemployed? • Job losers (those on layoff or termination seeking work) • Job leavers (those that voluntarily leave a job and then seek work) • New entrants (those that enter the labor market for the first time seeking work) • Re-entrants (those that had left the labor force and have rejoined to seek work)

  15. Education and Training pay …2011 Annual Average Unemployment Rate(Percent) Median Earnings (Dollars) Doctoral degree Professional degree Master’s degree Bachelor’s degree Associate degree Some college, no degree High-school graduate Some high-school, no diploma Notes: Unemployment and earnings for workers 25 and older; earnings for full-time wage and salary workers. 2011 Weekly Median Earnings (multiplied by 52 weeks). Source: Bureau of Labor Statistics, Current Population Survey. March 2012.

  16. Conclusion

More Related