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Today and Tomorrow: A Look at Idaho’s Top Industries and Occupations. Sara Scudder Communications and Research September 10, 2008. Navigating Idaho’s Economy. Graying work force Unemployment and the business cycle Recent employment Trends HOT Industries HOT Jobs.
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Today and Tomorrow:A Look at Idaho’s Top Industries and Occupations Sara Scudder Communications and Research September 10, 2008
Navigating Idaho’s Economy • Graying work force • Unemployment and the business cycle • Recent employment • Trends • HOT Industries • HOT Jobs
2006 Median Age by State Source: 2006 Population Estimates from the US Census Bureau
2006 Percent of Residents Aged 65+ Source: 2006 Population Estimates from the US Census Bureau
Estimated Population Shift Source: EMSI
Idaho Nonfarm Jobs (1998-2008) Source: IDOL QCEW
Idaho’s Employment Outlook • Employment in Idaho is projected to increase more than 20 percent from roughly 711,000 in 2006 to 854,000 in 2016. • If annual job replacements are also taken into account, job openings will rise to more than 30,000 annually.
What is an Industry? • An industry is a group of establishments that perform similar processes used to produce goods or services. • An establishment is a single physical location where business is conducted or where services or industrial operations are performed.
How does Idaho’s industry growth compare to the nation’s? Source: BLS 2006-2016 Industry Projections and IDOL 2006-2016 Industry Projections.
What is are HOT Industries? • Hot industries are those that on average rank high in three major criteria — • the abundance of jobs in the economy, • jobs which are growing the fastest and • jobs with the highest pay.
Idaho’s Hot Industries… 1 Ambulatory Health Care Services • Change in Employment: +10,677 • Growth Percentage: 42.3% • Median Hourly Wage: $15.08 2 Local Government, Excluding Education and Hospitals • Change in Employment: +7,506 • Growth Percentage: 27.7% • Median Hourly Wage: $18.37 3 Administrative and Support Services • Change in Employment: +16,958 • Growth Percentage: 43.2% • Median Hourly Wage: $12.22 Source: IDOL 2006-2016 Industry Projections.
Idaho’s Hot Industries… 4 Telecommunications • Change in Employment: 2,614 • Growth Percentage: 67.3% • Median Hourly Wage: $18.84 5 Specialty Trade Contractors • Change in Employment: 9,812 • Growth Percentage: 29.7% • Median Hourly Wage: $14.72 For a list of Idaho’s Hot Industries visit the Idaho Department of Labor’s LMI Web site: lmi.idaho.gov Source: IDOL 2006-2016 Industry Projections.
What are Occupations? • Occupations are classified by similar job duties rather than job title. • Workers within an occupation may have many different job titles.
What are HOT Jobs? • Hot Jobs are those that on average rank high in three major criteria — • the abundance of jobs in the economy, • jobs which are growing the fastest and • jobs with the highest pay.
Idaho’s HOT Jobs… 1 Registered Nurses • Change in Employment: +3,617 • Growth Percentage: 36.7% • Annual Openings: 523 • Median Hourly Wage: $25.25 • Required Education: Associate Degree 2 Pharmacists • Change in Employment: +595 • Growth Percentage: 42.9% • Annual Openings: 84 • Median Hourly Wage: $45.10 • Required Education: First Professional Degree Source: IDOL 2006-2016 Occupational Projections.
Idaho’s HOT Jobs… 3 Business Operations Specialists, All Other • Change in Employment: +1,537 • Growth Percentage: 34.4% • Annual Openings: 202 • Median Hourly Wage: $22.61 • Required Education: Bachelor’s Degree 4 Dental Hygienists • Change in Employment: +477 • Growth Percentage: 50.7% • Annual Openings: 66 • Median Hourly Wage: $33.70 • Required Education: Associate Degree Source: IDOL 2006-2016 Occupational Projections.
Idaho’s HOT Jobs… 5 Computer Software Engineers, Applications • Change in Employment: 406 • Growth Percentage: 51.2% • Annual Openings: 53 • Median Hourly Wage: $37.59 • Required Education: Bachelors Degree Source: IDOL 2006-2016 Occupational Projections.