Dee Funkhouser, Labor Market Information Colorado Department of Labor & Employment

1. Colorado’s Labor Market Information Dee Funkhouser, Labor Market Information Colorado Department of Labor & Employment October 30, 2013

2. Today’s Agenda • What is Labor Market Information? • Overview of the Economy • National and Colorado • Boulder and Denver • Use of LMI • Websites • Products

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

4. Economic Outlook: 2013 • Sequestration constraining 2013 growth • U.S. GDP growth for 2012 was 2.2% • Up marginally from 2011 at 1.8% • Growth in 2013 forecast 1.5 – 2.0% • Quarter 2, 2013 GDP came in at 2.5% • U.S. policy issues (Federal shutdown & debt ceiling) contributing to uncertainty Source: The Conference Board

5. Economic Outlook: 2013 • Uncertain Fiscal Policy • Preventing economy from growing faster > 3.0% • Fiscal austerity has kept unemployment rate elevated • Trimmed GDP by 1 to 1.5% (‘11-’13) • Gov’t Shutdown will reduce Q4 GDP by 0.5% to 0.8% • Consumer Confidence lowered Source: The Conference Board

6. U.S. Nonfarm Payroll Jobs 1.7 ¯ M 138,000,000 jobs 136,300,000 129,250,000 JAN. 2008 FEB. 2010 Sept. 2013 Source: Labor Market Information, Current Employment Statistics

7. Colorado: Months to Return to Previous Employment Peak Colorado Department of Labor and Employment, Labor Market Information

8. National Nonfarm Payroll Jobs • Construction & Manufacturing: large job losses from 2007 – 2010 • Construction up 390K (7.2%) from Jan. 2011, Manufacturing up 500K (4.4%) since Jan. 2010 • Rebound in construction benefits: Retail, Information, Financial, Prof. & Business Services, Leisure/Hospitality, Government • Education & Health Services added nearly 2.0 million jobs since the start of the recession. Source: Labor Market Information, Current Employment Statistics Program

9. National Unemployment RateSeasonally Adjusted Source: Labor Market Information, Local Area Unemployment Statistics Program

10. MSAs Unemployment Rates August 2013 Seasonally Adjusted Data Source: Labor Market Information, Local Area Unemployment Statistics

11. Non-farm Payroll Job Growth U.S. and Colorado Source: Labor Market Information, Current Employment Statistics Program

12. Nonfarm Job Growth 2000 – 2012 Source: Labor Market Information, Current Employment Statistics Program

13. Super Sector Industries August 2012 – August 2013 Source: Labor Market Statistics, Current Employment Statistics Program

14. Denver MSA Strengths • 6.7% Unemployment Rate = lowest since Dec. 2008 • 70% of statewide job growth centered in Denver: +36,400 jobs from Aug 2012 – Aug 2013 (2.9%) • Rising home prices and influx of young, well-educated adults = increased construction activity • Diverse industry base: • transportation cross-roads (I-25 & I-70 + DIA) and improvements (light rail expansion + Union Station) • large technology companies (Arrow Electronics, Lockheed Martin, & Sun Microsystems) Source: Labor Market Information, Current Employment Statistics Program

15. Boulder MSA Strengths • 5.2% Unemployment Rate = lowest since Nov. 2008 • Added nearly 4,000 jobs Aug 2012 – Aug 2013 (2.2%) • Highest average weekly wage of all MSAs at $1,095 • University of Colorado/large # of Federal Laboratories = many high-tech spin offs. • Aerospace (satellites) • Computer Systems Design (IBM) • Advanced Manufacturing (TYCO), • Start-ups (Boulder Techstars) Source: Labor Market Information, Current Employment Statistics Program

16. LMI Web Site http://www.colmigateway.com Change is Coming . . . December 2013/January 2014 December 2013/January 2014

17. 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

18. Top Occupation Groups Last 30 Days Boulder MSA Denver MSA • Computer & Mathematical • Office Administration • Sales & Related • Management • Healthcare Practitioners • Computer & Mathematical • Sales & Related • Office Administration • Healthcare Practitioners • Management Source: Help Wanted OnLine, through Oct 19, 2013

19. Top Hiring Employers – Last 60 Days Boulder MSA Denver MSA • University of Colorado • Manpower • Exempla Healthcare • Kelly Services • Boulder Comm. Hospital • Epsilon • Ball Corporation • Centura Health • University of Colorado • Health One • HCA • Comcast • Robert Half International • Exempla Healthcare Source: Help Wanted Online through Oct 19, 2013

20. Top Job Boards: Last 120 Days BoulderMSADenver MSA • Craigslist • US.jobs • CareerBuilder • TipTopJob • Monster • Craigslist • US.jobs • CareerBuilder • TipTopJob • Monster Source: Help Wanted Online through Oct 19, 2013

21. MSA Wages Computer/Mathematical $ 89,348 Computer Systems Analysts $ 81,525 $ 91,371 Software Developers$ 91,618 Sales & Related $ 37,421 Retail Supervisors $ 36,900 $ 23,032 Retail Sales $ 22,464 Office/Administrative Support $ 32,329 Customer Service Reps $ 32,001 $ 51,456 Executive Secretaries/Assistants $ 50,596 Health CarePractitioners $ 68,217 Registered Nurses $ 70,228 $ 78,931 Occupational Therapists $ 76,032 Transportation $ 39,625Truck Drivers – Tractor Trailer $ 41,389 $ 31,918 Driver/Sales Workers $ 21,357 BOULDER DENVE R Occupation Employment Statistics, 2012

22. Long-Term Projections Top Jobs Labor Market Information

23. Questions