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Metropolitan State University

Metropolitan State University Labor Market Information for Job Seekers. Dee Funkhouser, Labor Market Information Colorado Department of Labor & Employment August 27, 2014. Today’s Agenda. What is Labor Market Information? Types/Uses of Data Setting the Stage National State

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Metropolitan State University

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  1. Metropolitan State University Labor Market Information for Job Seekers Dee Funkhouser, Labor Market Information Colorado Department of Labor & Employment August 27, 2014

  2. Today’s Agenda • What is Labor Market Information? • Types/Uses of Data • Setting the Stage • National • State • Denver MSA Data • Industries/Occupations • Employers • How do all of these data contribute to your job search?

  3. Labor Market Information:Definitions • Industry Employment & Wages • Occupation Employment & Wages • Unemployment • Demand for Workers • Current • Future

  4. Workforce Data Uses of LMI for Job Seekers • Identification of skills sought by employers • Develop awareness of market trends • Gain an understanding of hiring demand • Find ads for specific, individual job openings • Identify top hiring employers

  5. Economic Outlook: 2014 • Cold winter in much of US dampened 2014 growth • 1st Quarter -- loss of 2.1% • 2nd quarter –- rebound with gain of 4% • U.S. GDP growth for 2013 was 2.1% and 2014 will likely be equal or less than 2.0% again • Growth is not level across U.S. • Some states leading the pack: ND, UT, CA, CO, TX • Others lagging: NM, WY, AK, PA, AR, WV The Conference Board, 2014

  6. Uneven Recovery – Employment Change since January 2008 Colorado Department of Labor and Employment, QCEW, Labor Market Information

  7. Statewide vs. Denver MSA July 2014 OTY: Average Employment Growth by Industry Source: Labor Market Information, Current Employment Statistics, July 2014

  8. Statewide vs. Denver MSA July 2014 OTY: Average Employment Growth by Industry PART 2 Source: Labor Market Information, Current Employment Statistics, July 2014

  9. Occupations & Wages Denver MSA 1,280,960 $ 25.04 $ 52,082 Food Prep/Serving Related 111,830 $10.82 $ 22,506 Business/Financial Ops. 104,100 $35.72 $ 74,290 Transport./Material Moving 75,520 $17.80 $ 37,032 Healthcare Practitioners/Tech. 65,560 $37.42 $ 77,831 Management 67,754 $59.66 $124,099 Computer & Mathematical 58,310 $41.26 $ 85,825 Installation/Maint./Repair 46,300 $22.83 $ 47,492 Architecture/Engineering 32,270 $41.84 $ 87,029 Art/Design/Entertain/ Sports/Media 19,200 $25.44 $ 52,913 Protective Service 28,666 $21.57 $ 44,864 Community/Social Serv. 14,890 $22.26 $ 46,309 Life/Physical/Soc. Science 13,980 $34.74 $ 72,254 AnnualWage HourlyWage Employees Source: Labor Market Information, Occupational Employment Statistics, 2013

  10. LMI Projections • Short-Term Projections • Industry and Occupation • 2 years; Through 2016 • Sensitive to Business Cycles • Long-Term Projections • Industry and Occupation • 10 years; Through 2022 • Long-Term Planning

  11. Long-Term Occupation Projections Denver MSA Source: LMI Projections, 2012-2022

  12. Colorado’s Workforce Centers • Help job seekers with job search • Assessments • Classes on interviewing, resumes, cover letters • Skills training (formal or on-the-job), as eligible and as needed • Help employers find qualified candidates • Customized training and recruitment • Connecting Colorado: labor exchange website Source: The LMI Training Institute

  13. LMI Website http://www.colmigateway.com

  14. Real-Time Labor Market Information • Current job vacancy data by industry and occupation • Web-spidering technology • Eliminates duplication and automatically codes data • Can provide occupation groups, job titles, employer names, job ads • Help Wanted On-Line Source: The LMI Training Institute

  15. Denver MSA Sample Job Ads Source: HWOL, August 21 2014

  16. Top Hiring Employers • PSA HEALTHCARE • IBM • Robert Half International • Catholic Health Initiatives • Randstad • Macy’s • SCL Health System, Inc. • WellPoint, Inc. Source: HWOL, August 14 – 21, 2014

  17. Questions

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