Labor Market Information Program

Labor Market Statistics Center

• Introduction to the Labor Market Information (LMI) program

• Overview of:– Definitions– Mission– Products / Data Series– Customers

Objectives

What is LMI?

• Labor force, employment, unemployment, unemployment rates

• Employment and wages by industry and occupation• Employment projections by industry and occupation• Other

– Population demographics– Education and training data– On-line job ads

• The LMI program mission is to produce, analyze, and deliver timely and reliable labor statistics to improve economic decision-making

Mission

• Labor Force• Total Employment• Employment by Industry and Occupation• Employment Projections by Industry and Occupation

(Demand)• Unemployment/ Unemployment Rate• Wage by Industry and Occupation• Census / local employment dynamics (LED)• Education / training data and on-line job ads

LMI Produced / Delivered

• Workforce / Economic Development Decision-Makers• Employers / Job Seekers• Education / Welfare Planners • Career Counselors / Teachers• Economists / Policy Makers• Elected Officials• Media

Who are Customers of LMI?

• Data collected under Federal/ State Cooperative Statistical Programs

• Data comparable nationwide for all counties and metro areas

• Data meet stringent probability sampling design statistical methods with required response rates of 75 percent

• Monthly data release dates by county and metro area are 3 weeks after the reference month

LMI Facts

• Labor Force is employment plus unemployment• Employment is all those 16+ that work one hour or

more for pay or profit (during the survey reference week ) or 15 hours without pay in a family enterprise

• Unemployment is all those 16+ without a job (during the survey reference week) but are available and actively seeking work during the previous four weeks

• Unemployment rate is unemployment divided by labor force

What Are LMI Data Definitions?

Source: U.S. Department of Labor, Bureau of Labor Statistics, Local Area Unemployment Statistics Program in cooperation with the Florida Department of Economic Opportunity, Labor Market Statistics Center, released June 15, 2012.

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Recession

Florida

United States

• 1973 oil embargo• Multi-family housing market

Peak unemployment rate 11.9 percent, May 1975

• 1979 energy crisis• Tight monetary policy• Savings and loan collapse

• Defense spending declines• End of the Gulf War• Airlines deregulation

• IT bubble collapse• 9/11 events• Manufacturing outsourcing

• Oil prices• Housing bubble collapse• Financial crisis

Peak unemployment rate 11.4 percent, January-February 2010

Unemployment Rates, Florida and the United States – Recessions 1974 – 2012

Construction4.3%

Manufacturing4.3%

Trade, Transportation, and

Utilities20.7%

Information1.8%

Financial Activities6.7%

Professional and Business Services

14.7%

Education and Health Services

15.3% Leisure and Hospitality

13.2%

Other Services4.2%

Total Government14.8%

Source: U.S. Department of Labor, Bureau of Labor Statistics, Current Employment Statistics Program, released June 15, 2012.Prepared by: Florida Department of Economic Opportunity, Labor Market Statistics Center.

Nonagricultural Employment by Industry,Florida

Source: Florida Department of Economic Opportunity, Labor Market Statistics Center, Quarterly Census of Employment and Wages Program. Released October 2011.

Industry Average Annual

Wages Total, All Industries $41,574

Information $61,506Financial Activities $57,042Manufacturing $51,848Professional and Business Services $49,185Government $47,361Education and Health Services $43,686Construction $41,087Trade, Transportation, and Utilities $37,109Other Services $29,609Natural Resources and Mining $24,286Leisure and Hospitality $21,447

Wages by Industry,Florida

2011HOURLY EDUCATIONAL

RANK OCCUPATIONAL TITLE PERCENT LEVEL WAGE ATTAINMENT

1 Home Health Aides 5.49 1,845 10.55 PSAV Cert.2 Network Systems and Data Communications Analysts 5.07 1,049 34.54 PSAV Cert.3 Cost Estimators 4.47 461 27.88 CC Cert./Degree4 Physician Assistants 4.11 166 43.03 Bachelor's 5 Personal and Home Care Aides 4.10 606 9.55 PSAV Cert.6 Veterinary Technologists and Technicians 4.08 249 14.50 CC Cert./Degree7 Drywall and Ceiling Tile Installers 3.97 214 15.79 PSAV Cert.8 Heating, A.C., and Refrigeration Mechanics and Installers 3.95 881 19.20 PSAV Cert.9 Dental Hygienists 3.86 347 28.55 CC Cert./Degree

10 Cement Masons and Concrete Finishers 3.76 278 15.49 PSAV Cert.

ANNUAL GROWTH

*Includes occupations w ith a minimum employment greater than 4,000 jobs in 2011.

H.S.– High School, PSAV – Postsecondary Adult Vocational Certif icate, CC Cert. – Community College Certif icate, Note: Because most industries experienced job declines in the economic dow nturn that began in 2007, some of the job grow th projected in this forecast includes the recapturing of jobs lost since that time.

Source: Florida Department of Economic Opportunity, Labor Market Statistics Center. Released October 2011.

Fastest-Growing Occupations*Florida, Forecast to 2019

• That the count of unemployed consists only of Unemployment Compensation (UC) claimants (WRONG!)

• Note: The number of the unemployed is a broader concept and a larger number than just UC claimants. The unemployed do not have be eligible or claiming UC benefits; instead they must just be seeking work. The unemployment rate is not the UC rate.

What Is the Most Common Misconception Concerning LMI?

What Are the Types of Unemployed?

• Job losers (those on layoff or termination seeking work)

• Job leavers (those that voluntarily leave a job and then seek work)

• New entrants (those that enter the labor market for the first time seeking work)

• Re-entrants (those that had left the labor force and have rejoined to seek work)

Unemployment Rate(Percent)

Median Earnings (Dollars)

Master’s degree

Bachelor’s degree

Associate degree

Some college, no degree

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$23,452

$33,176

$37,388

$39,936

$54,756

$65,676

$86,580

$80,652

High-school graduate

Some high-school, no diploma

Education and Training pay …2011 Annual Average

Professional degree

Doctoral degree

Notes: Unemployment and earnings for workers 25 and older; earnings for full-time wage and salary workers. 2011 Weekly Median Earnings (multiplied by 52 weeks).

Source: Bureau of Labor Statistics, Current Population Survey. March 2012.

Conclusion