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Presentation Contents Project Approach Data Findings

WDC Industry and Employment Committee March 13, 2012 Chris Mefford, President Community Attributes. Presentation Contents Project Approach Data Findings. Clusters. 2011 Sectors Healthcare Manufacturing Transportation and Logistics 2012 Sectors Information Technology

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Presentation Contents Project Approach Data Findings

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  1. WDC Industry and Employment Committee March 13, 2012 Chris Mefford, President Community Attributes • PresentationContents • Project Approach • Data • Findings

  2. Clusters 2011 Sectors • Healthcare • Manufacturing • Transportation and Logistics 2012 Sectors • Information Technology • Business Services • Finance and Insurance • Cross-Sector Focus: STEM Seattle-King County Talent Pipeline Study Industry & Employment CommitteeMarch 13, 2012

  3. Talent Pipeline Project Approach Define Core Occupations by Industry • WDC “Focus Sectors” • Core occupation selection criteria • Industry-specific training • % occupation employed within sector Measure Supply and Demand • Supply Part 1. Unemployed (Average of 2007 & 2010 by occupation) • Supply Part 2. Trained candidates (Class of ‘09-10) • Demand. Total average annual openings, 2014-2019 Assess Surpluses and Shortages (Unemployed + Trained Candidates) - Demand = Surplus (Shortage) Seattle-King County Talent Pipeline Study 3 Industry & Employment CommitteeMarch 13, 2012

  4. Seattle-King County Talent Pipeline Data Supply Demand Occupation Forecasts Unemployed Workers • Occupational Forecasts for Seattle-King County, 2009, 2014 and 2019 (ESD) • Unemployment data for King County by occupation for May 2011 (O*NET UI) • Historical unemployment for King Co. (BLS ) Graduates and Trained Candidates • Degree program completions King County institutions, class of ‘09-10 (NCES IPEDS) • Training Programs to Occupations assignment (NCES) • Occupation forecasts for Seattle-King County, 2009 – 2019 (ESD) • Occupations’ “most significant education” (BLS) • Graduate retention in King County (WA HECB) • “Most Significant Education” does not always correlate to educational attainment. Seattle-King County Talent Pipeline Study Industry & Employment CommitteeMarch 13, 2012

  5. Information Technology On-the-Job Training • Few growth occupations in IT are associated with On-the-job training. Shortage TrainedCandidates Unemployed Seattle-King County Talent Pipeline Study Industry & Employment CommitteeMarch 13, 2012

  6. Information Technology Associate’s Degree or Vocational Award • The data suggest the highest demand for IT candidates is at the Associate’sdegree or Postsecondary vocational award level. • Demand is highest for Computer Software Engineers, Applications. • Employers reviewing this draft suggest that the estimates of demand for Associate’s degrees may be high. Shortage TrainedCandidates Unemployed Seattle-King County Talent Pipeline Study Industry & Employment CommitteeMarch 13, 2012

  7. Information Technology Bachelor’s Degree • Employers reviewing this draft suggest that the estimates of demand for Bachelor’s degrees may be low. Shortage TrainedCandidates Unemployed Seattle-King County Talent Pipeline Study Industry & Employment CommitteeMarch 13, 2012

  8. Information Technology Master’s, First Professional Degree or Higher • There are few occupations associated with Master’s degrees or higher in IT. • Demand is highest for Computer and Information Systems Managers. Shortage TrainedCandidates Unemployed Seattle-King County Talent Pipeline Study Industry & Employment CommitteeMarch 13, 2012

  9. Information Technology Key Findings Supply • Seventeen of the 21 occupations studied are projected to have a supply gap, with a net shortage of 3,631 jobs for all 21 occupations, annually. • The largest shortage in IT is projected to be for Computer Software Engineers, Applications. • The occupations with highest demand offer excellent pay, particularly Computer Software Engineers, Applications; Computer Software Engineers, Systems Software; and Computer Support Specialists, which all earn $86,000 or more. Demand • The sector’s top ten jobs are expected to grow at a rate of 2.8% which is well above the average annual rate for King County total employment (1.4% CAGR). • Information Technology is projected to have 5,618 annual openings in IT employment, totaling 33,708 over the five year period (2014-2019). • The top five occupations, ranked by total annual openings are projected to account for 3,507 job openings per year. This represents 62.4% of total job openings in all of the IT occupations studied. • The highest demand is projected to be for candidates with an Associate’s degree or Postsecondary vocational award; however this may conflict with market reality and desired education level for these occupations. • Employers report a preference for candidates with a BA degree or higher for a number of IT openings. Seattle-King County Talent Pipeline Study Industry & Employment CommitteeMarch 13, 2012

  10. Finance and Insurance On-the-Job Training • Shortages exist at the On-the-Job-Training level for Finance and Insurance. • Several of these positions pay a living wage salary. • One of the top highest growing occupations across education levels in this sector is for Tellers, probably due to high turn over and transferable skills. Shortage TrainedCandidates Unemployed Seattle-King County Talent Pipeline Study Industry & Employment CommitteeMarch 13, 2012

  11. Finance and Insurance Associate’s Degree or Vocational Award • Only one Finance and Insurance position associated with an Associate’s Degree or Postsecondary Vocational Award anticipates growth. • Supply generally keeps pace with demand for this position. Shortage TrainedCandidates Unemployed Seattle-King County Talent Pipeline Study Industry & Employment CommitteeMarch 13, 2012

  12. Finance and Insurance Bachelor’s Degree • Most demand is projected for the Bachelor’s and Master’s level. • This is reflective of industry input that often claims difficulty in recruiting and retaining more experienced financial managers. Shortage TrainedCandidates Unemployed Seattle-King County Talent Pipeline Study Industry & Employment CommitteeMarch 13, 2012

  13. Finance and Insurance Master’s, First Professional Degree or Higher • The highest demand category for Finance and Insurance is at the Master’s or higher level. • The bulk of this demand is for Financial Managers. Shortage TrainedCandidates Unemployed Seattle-King County Talent Pipeline Study Industry & Employment CommitteeMarch 13, 2012

  14. Finance and Insurance Key Findings Supply • Sixteen of the 20 occupations studied are projected to have a supply gap, totaling a net shortage of 673 annually for all occupations studied. • The largest projected shortage is for Financial Managers, Financial Analysts, Securities, Commodities, and Financial Services Sales Agents, all associated with a Bachelor’s degree or higher. Financial Managers look forward to a median wage of $111,220; Financial Analysts, $81,370; and Securities Commodities, and Financial Services Sales Agents, $62,820. Occupations associated with On-the-job training that will experience a shortage include Claims Adjusters, Examiners and Investigators ($61,250), Loan Interviewers and Clerks ($38,700) and Loan Officers ($75,120). • Finance and Insurance offers entry level to experienced financial investment and portfolio management positions. The banking sector provides entry-level customer service positions and offers management training and career pathways. Demand • The sector’s top ten jobs are expected to grow at a modest rate of .2% CAGR, below the King County rate (1.4%). The industry has retracted due to the demise of Washington Mutual bank (WaMu), and although banking and lending positions’ growth is sluggish, financial analyst positions, for example, anticipate strong growth. • Finance and Insurance is projected to have 1,037 annual job openings, resulting in more than 6,000 positions from 2014 to 2019. • Financial Managers, Financial Analysts and Securities, Commodities, and Financial Services Sales Agents, Tellers and Insurance Sales Agents represent 64.5% of the sector’s growth from 2014 to 2019. • The Financial Services industry intensely leverages information technologies. Opportunities for cross-collaboration and talent pooling exist. Seattle-King County Talent Pipeline Study Industry & Employment CommitteeMarch 13, 2012

  15. Business Services On-the-Job Training • The data suggest the highest demand for Business Services candidates is at the On-the-Job Training level. • The greatest demand exist at the On-the-Job Training level. Customer Service Representatives, Office Clerks, General, Janitors and Cleaners, Except Maids and Housekeeping Cleaners. 2633 Shortage TrainedCandidates Unemployed Seattle-King County Talent Pipeline Study Industry & Employment CommitteeMarch 13, 2012

  16. Business Services Associate’s Degree or Vocational Award • Shortages exist at the Associate’s degree or Vocational Award level for Business Services. • Few positions in this sector are associated with Associate’s degree or Vocational Award attainment. Shortage TrainedCandidates Unemployed Seattle-King County Talent Pipeline Study Industry & Employment CommitteeMarch 13, 2012

  17. Business Services Bachelor’s Degree • Shortages exist at the Bachelor’s degree level for Business Services. • Business Operations Specialists, All Other anticipate the highest shortage at the Bachelor level. • Public Relations Specialists represent the sector’s largest surplus. Shortage TrainedCandidates Unemployed Seattle-King County Talent Pipeline Study Industry & Employment CommitteeMarch 13, 2012

  18. Business Services Master’s, First Professional Degree or Higher • Shortages exist at the Master’s degree or higher level for Business Services. • Shortages at the Master’s or higher level  are found primarily for General and Operations Managers, Management Analysts and Marketing Managers. 846 Shortage TrainedCandidates Unemployed Seattle-King County Talent Pipeline Study Industry & Employment CommitteeMarch 13, 2012

  19. Business Services Key Findings Supply • Forty-seven of the 53 occupations studied are projected to have a supply gap, totaling a net shortage of 4,887 annually across all studied occupations. This masks the degree of specific occupational shortages due to a surplus of the Managers, All Others occupational category. Business Services also represents the largest sector in this study, with over 50 occupations, compared to about 20 for IT and Finance and Insurance. Of the top five Business Services positions ranked by annual openings from 2014 to 2019, a shortage of 2,220 is expected. • All of the top five occupations expect a shortage of more than 300 candidates annually. Based on education level, shortages are more pronounced for people with On-the-job training, followed by Bachelor’s then Master’s degree or higher. • Few occupations are associated with an Associate’s degree or Postsecondary vocational award. The majority of positions are better aligned with On-the-job training or a Bachelor’s or Master’s degree. Demand • Business Services jobs are forecasted to grow at a compound annual growth rate of 1.3%, slightly below the average for all King County employment (1.4%). However, some key positions anticipate higher growth rates, such as Accountants and Auditors at 2.8% CAGR. • Business Services will create 3,117 annual openings from 2014 to 2019, resulting in more than 18,000 jobs over the six year period. • The top ten occupations ranked by total annual openings, account for only 45% of the total jobs in the sector, indicating that employment is more evenly distributed among occupations in the sector. This is to be expected, given the diverse range of business service type skills needed in all sectors. • Few occupations in Business Services are associated with an Associate’s degree or Postsecondary vocational award. Demand is highest for Bachelor’s degrees and Master’s degrees or higher. The bulk of this sector’s employment base is made up of people with On-the-job training experience. Supply keeps pace better with demand for this training/educational category than for the Bachelor’s and Master’s level. Seattle-King County Talent Pipeline Study Industry & Employment CommitteeMarch 13, 2012

  20. STEM On-the-Job Training 16 Surplus • The data suggest there is little demand in STEM occupations for On-the-Job Training level. • A surplus exists for STEM positions associated with On-the-Job training. • However, few positions in this sector are associated with On-the-Job training. TrainedCandidates Unemployed Seattle-King County Talent Pipeline Study Industry & Employment CommitteeMarch 13, 2012

  21. STEM Associate’s Degree or Vocational Award • Associate’s degree or Vocational Award level for STEM has the highest demand. • The majority of in-demand STEM jobs are in IT-related occupations. • Occupations at the Associate’s degree or Vocational Award level for STEM pay high wages. Shortage TrainedCandidates Unemployed Seattle-King County Talent Pipeline Study Industry & Employment CommitteeMarch 13, 2012

  22. STEM Bachelor’s Degree • In STEM occupations at the Bachelor’s degree level, surplus exists for Architects. Shortage TrainedCandidates Unemployed Seattle-King County Talent Pipeline Study Industry & Employment CommitteeMarch 13, 2012

  23. STEM Master’s, First Professional Degree or Higher 15 Shortage • The highest demand at the Master’s degree or higher level is found for Medical Scientists, Except Epidemiologist. • Overall demand at the Master’s or higher level is low. TrainedCandidates 846 Unemployed Seattle-King County Talent Pipeline Study Industry & Employment CommitteeMarch 13, 2012

  24. STEM Key Findings • Demand • All four of the STEM groupings anticipate growth, the most pronounced of which will occur in technology-related fields. • Science and engineering will add approximately 900 and 1,300 positions, respectively, by 2019. Technology is expected to add 4,500 and math anticipates the most modest growth at 84 positions per year by 2019. • The highest demand positions reflect the growth of the Information Technology sector discussed previously in this report and include: Computer Software Engineers, Applications, Network Systems and Data Communications Analysts, and Computer Software Engineers. • STEM skills are highly transferable. A degree holder in a STEM field may work in a different STEM field than their degree or an unrelated field. • Supply • STEM occupations anticipate a net shortage of 3,687 candidates, primary from technology-related fields. While Engineering is expected to have a net surplus of almost 300 candidates by 2019, this is the result of the inclusion of Architect occupations in the general Engineering category. Most pure engineering occupations show supply shortages. • Following growth trends, shortages exist in all four categories, the most significant are in technology followed by science. • STEM fields earn more and experience lower unemployment than other fields. • Most STEM occupations are associated with a Bachelor’s degree or higher. • Although the majority of STEM workers have a Bachelor’s degree or higher, occupations exist for people with less education, such as Technicians. Seattle-King County Talent Pipeline Study Industry & Employment CommitteeMarch 13, 2012

  25. Next Steps • Review draft findings • WDC staff and support, Industry experts • Finalize report Seattle-King County Talent Pipeline Study Industry & Employment CommitteeMarch 13, 2012

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