Labor Market Info for JOB SEARCHES tools you can use

1. Labor Market Info for JOB SEARCHEStools you can use Labor Market Information and Online Resources VR/CRP Quarterly Meeting April 26, 2016 Ruth Pease Economic Research Analyst Center for Workforce Research & Information Maine Dept. of Labor www.maine.gov/labor/cwri/ ruth.e.pease@maine.gov 207-621-5189

2. Agenda • Summary of current labor market and underlying conditions. • LMI Tools you can use: a live demonstration of Maine Department of Labor’s Center for Research and Information (CWRI) website. • Maine Workers with Disabilities – a collection of diverse statistics. • Questions and concerns

3. At 3.4% in March, Maine’s monthly unemployment rate is lower than it has been since February 2001. Other indicators suggest that the job market is not as tight as the unemployment rate would imply.

4. And, while the number of Maine jobs is rising, job growth is slower than the nation and Maine still has fewer jobs than before the recession.

5. How can we have unemployment rates at historical lows yet slower job growth than the nation? Underlying these trends are Maine’s population dynamics and age structure: • Virtually no population change for 6 years. • Deaths per year now outnumber births and net migration is near zero. • Compared to the nation, the share of older Mainers is large while the share of young people to replace them is small.

6. Through 2024, the number of seniors will increase significantly while the prime working-age population will decline.

7. This is important because labor force participation differs by age. The 25 to 54 age group – with the highest attachment to the workforce - is shrinking.

8. Aging is constraining our growth potential. The tightening labor market will create a more competitive landscape for employers to attract workers. This should lead to rising wages – and a favorable situation for workers, particularly those entering the job market.

9. Types of workforce data:

10. Where to find… information about current conditions: CWRI online resources Industry Employment and Wages page (interactive data tool) Unemployment and Labor Force page (interactive data tool) Occupational Employment and Wages (interactive data tool) OR Job Seeker page • Employment trends by region • Unemployment rates by region • Employment/wages by occupation

11. Where to find… information about outlook (projections) CWRI online resources Job Outlook page (from Main Menu) Select Job Outlookinteractive Tab 2 Select Job Outlookinteractive Tab 6 Select Job Outlookinteractive Tab 5 • Job Outlook 2012 to 2022 • Growing/Declining Occupations • High-Wage In-Demand Jobs • Occupation by Industry

12. Google “CWRI” and bookmark www.maine.gov/labor/cwri/

13. Current conditions: regional employment trends

15. Current conditions: trends in unemployment

16. Current Conditions – Occupations by Wages, table view

17. Occupations by Wages, graph view

18. Future conditions - Job Outlook to 2022 estimates based on 10-year projections

19. Outlook: Growing/Declining Occupations research by selected criteria

20. Outlook - High Wage, In-Demand

21. Outlook - High Wage, In-Demandtable view

22. “High Growth” versus “In-Demand”Job openings stem from two sources: replacement of incumbent workers and job creation. From 2012 to 2022, five out of six openings will be due to replacement needs.

23. Occupation by Industryselect an occupation to see where those kinds of jobs typically are found.

24. Also found on the Job Seeker page:

25. Other resources • On the CWRI website: • Employer Locator • Workers with Disabilities • Job postings feature on O*Net Online, found on the Summary and Detail occupation report pages. Start at http://www.onetonline.org proceed to an occupation profile page and look for the Job Openings on the Web feature.

27. Questions? Problems? If you experience problems viewing CWRI website content, try a different internet browser. For more information or help finding or interpreting LMI data, contact Ruth Pease at ruth.e.pease@maine.gov or at 621-5189