Labor Market Information (LMI) - IN.gov NORTH_LMI Workshop_SLIDES.pdf · Why is LMI Important? ü...
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Labor Market Information (LMI) When Words Aren’t Enough To Tell the Full Story
Transcript of Labor Market Information (LMI) - IN.gov NORTH_LMI Workshop_SLIDES.pdf · Why is LMI Important? ü...
LaborMarketInformation(LMI)WhenWordsAren’tEnough
ToTelltheFullStory
Agenda§ Welcomeandintroductions§ WhatisLMI?§ Definitions§ Keysourcesandapplications
§ LMIexamples§ Discussion:WorkingtheLMI§ Interactiveactivity§ ReportoutandQ&A
WhatisLMI?
ü Statisticalinformationthatcoversprincipalelementsofthelabormarket.
ü Includes,butisnotlimitedto:§ Previous,existingandexpectedindustriesand
occupationsjobgrowth.§ Jobopenings.§ Age,gender,racialcompositiontrendsinworkforce.§ Industry/occupationsearningsand/orwagestrends.§ Educationandskillsrequirements.
WhatisLMI?
§ Locationquotients.(Theconcentrationofanindustry,cluster,occupationordemographicgroupinaregioncomparedtothenation.)
§ Percapitaincomecomparedtothenation.§ Householdincome,education,parentstatus,
employment,carownership,etc.bycensustract.§ Volumeofoccupation-specificjobadspostedonlineby
employers.§ Unemploymentandlaborforcedata.
WhyisLMIImportant?
ü Changestheconversationfromperceptionoranecdotetoconcrete(orinsomecasesnearlyconcrete)evidence.
ü Develops“go-to”relationshipswithkeystakeholders,includingemployers,individuals,economicdevelopmentofficials,communitycollaborations,etc.
ü Helpsemployersinhiringandstrategicplanningdecisions.ü Helpsindividualsintheintentionalchartingofcareerpaths.ü Helpseveryoneunderstandtheforcesthataredrivinga
region’seconomyandworkforce.
WhyisLMIImportant?
ü Inthecaseofsectorstrategiesand/orsectorpartnerships:§ Helpsidentifyworkforce/educationsupplyand
demandwithinaparticularsector.§ Helpsindevelopingtrainingandeducationprograms
and/orcareerpathways.§ Helpsintalentretentioninitiatives.§ Helpsincreatinggeneralawarenessofsector
strategyprioritiesandchartingoutcomes.§ Isessentialtofundraisingtosupportsectorstrategy
work.
LMISources
ü QuarterlyCensusofEmploymentandWages(QCEW)§ Thisdatasetprovidesacountofpayroll-based
employmentandwagesbasedonquarterlyunemploymentinsurancepayment(byemployer)filingstothestates.
§ Pros:Coversroughly95%ofemployees.§ Cons:Timelagsandsuppressions.
LMISources
ü OccupationalEmploymentStatistics(OES)§ Thissurveydatasetprovidesthenumberofpeople
employedinmorethan800occupationtitles(andtheirwages)definedbythefederalstatisticalsystem.
§ Pros:Bestsurveydatasourceforoccupationaldata.§ Cons:Sometimesfederallydefinedoccupationsarenot
asdetailedassomemaypreferandtherearesomesuppressions.
LMISources
ü LaborForceUnemploymentStatistics(LAUS)§ Thisdatasetprovidesmonthlyestimatesbyplaceof
residenceoftotalemploymentandunemployment.Availableinseasonallyadjustedornotseasonallyadjustedforms.
§ Pros:Updatedmonthly.Otherdetaileddata(suchasveteransdata)isavailableatanationallevel.
§ Cons:Detaileddatanotavailableatlocallevel.
www.hoosierdata.in.gov
LMISources
ü AmericanCommunitySurvey§ Thissurveydatasetprovidesacountofjobs,educational
attainment,veterans,whetherpeopleownorrenttheirhome,andmanymoretopics.Availableasone- andfive-yearestimates.
§ Pros:Offerslocalleveldata.Manytopicscanbecross-referenced.
§ Cons:Timelagsandfive-yearestimatesmustbeusedtoobtaincertaindetaileddata.
LMISources
ü BurningGlassorHelpWantedOnLine§ Bothoftheseprivatecompaniesprovidedataononline
jobads.Theyscrapefromonlinejobboardsandmanycorporatesitesthatposttheirownjobads,thengothroughaprocesscalleddeduplication.
§ Pros:Providesimmediateinsightintoemployersandwhattheyarelookingfor(occupations,skills,certifications,etc.)
§ Cons:Notequallyrepresentativeofthelabormarket
LMISources
ü Emsi orChmura§ Bothoftheseprivatescompaniesprovidesdatathatuses
manygovernmentsources§ Pros:Removesmanysuppressionsbylookingatall
governmentsourcestofillingaps.Closetoreal-timedata.
§ Cons:Doesnotalwaysmatchupwithsomegovernmentdatasources.Sometopicaldatapointsofthegovernmentsourcescan’tbeaddedtothedataset.
GettoknowyourregionalanalystRegion 1: Kathy Jaworski [email protected]
Region 2: Kathy Jaworski [email protected]
Region 3: Kent Sellers [email protected]
Region 4: Cassie Janes [email protected]
Region 5: TBD
Region 6: Kent Sellers [email protected]
Region 7: Kim Stevenson [email protected]
Region 8: Cassie Janes [email protected]
Region 9: Jillian Gregory [email protected]
Region 10: Jillian Gregory [email protected]
Region 11: Kim Stevenson [email protected]
LMIExamples
NobleCountyMillennialsonManufacturing
• https://www.youtube.com/watch?v=kZGFqx31cSc
WorkingtheLMI:AConversation
Interactive:StrategyPlanning
Questions?
ContactInformation• RickFarrant SaraLamback• NortheastIndianaWorks JobsfortheFuture• (260)414-6249 [email protected]• [email protected]
• KentSellers• IndianaDepartmentofWorkforceDevelopment• (260)469-4313•
