Metropolitan State University Labor Market Information for Job Seekers

Dee Funkhouser, Labor Market InformationColorado Department of Labor & EmploymentAugust 27, 2014

Today’s Agenda● What is Labor Market Information?● Types/Uses of Data● Setting the Stage

► National► State

● Denver MSA Data► Industries/Occupations► Employers

● How do all of these data contribute to your job search?

Labor Market Information:Definitions

● Industry Employment & Wages● Occupation Employment & Wages● Unemployment● Demand for Workers

Current Future

Workforce Data

Uses of LMI for Job Seekers

● Identification of skills sought by employers

● Develop awareness of market trends

● Gain an understanding of hiring demand

● Find ads for specific, individual job openings

● Identify top hiring employers

► Economic Outlook: 2014

● Cold winter in much of US dampened 2014 growth ● 1st Quarter -- loss of 2.1%● 2nd quarter –- rebound with gain of 4%

● U.S. GDP growth for 2013 was 2.1% and 2014 will likely be equal or less than 2.0% again

● Growth is not level across U.S.● Some states leading the pack: ND, UT, CA, CO, TX● Others lagging: NM, WY, AK, PA, AR, WV

The Conference Board, 2014

Colorado Department of Labor and Employment, QCEW, Labor Market Information

Uneven Recovery – Employment Change since January 2008

2008

2008

2008

2008

2009

2009

2009

2009

2010

2010

2010

2010

2011

2011

2011

2011

2012

2012

2012

2012

2013

2013

2013

2013

2014

2014

2014

-8.0%

-6.0%

-4.0%

-2.0%

0.0%

2.0%

4.0%

6.0%

8.0%

Colorado Denver MSA United States

Statewide vs. Denver MSA July 2014 OTY:

Average Employment Growth by Industry

Total

Non

farm

Min

ing

& Log

ging

Constr

uctio

n

Man

ufac

turin

g

Who

lesa

le T

rade

Retai

l Tra

de

Trans

porta

tion,

War

ehou

sing

& Utili

ties

Info

rmat

ion

Finan

cial A

ctivit

ies

Profe

ssio

nal, S

ci. &

Tec

h.-3.00%-2.00%-1.00%0.00%1.00%2.00%3.00%4.00%5.00%6.00%

Colorado Denver MSASource: Labor Market Information, Current Employment Statistics, July 2014

Statewide vs. Denver MSA July 2014 OTY:

Average Employment Growth by Industry

PART 2

Source: Labor Market Information, Current Employment Statistics, July 2014

Man

agem

ent o

f Com

pani

es

Admin

, Sup

port

& Was

te M

gmt.

Educa

tiona

l Svc

s.

Health

Car

e & S

ocia

l Ass

t

Arts, E

nter

tain

men

t & R

ec.

Accom

. & F

ood

Svcs.

Other

Ser

vices

Feder

al G

ov

State

Gov

Loca

l Gov

-3.00%-2.00%-1.00%0.00%1.00%2.00%3.00%4.00%5.00%6.00%7.00%

Colorado Denver MSA

Source: Labor Market Information, Occupational Employment Statistics, 2013

Occupations & Wages

Denver MSA 1,280,960 $ 25.04 $ 52,082

Food Prep/Serving Related 111,830 $10.82 $ 22,506Business/Financial Ops. 104,100 $35.72 $ 74,290Transport./Material Moving 75,520 $17.80 $ 37,032Healthcare Practitioners/Tech. 65,560 $37.42 $ 77,831Management 67,754 $59.66 $124,099Computer & Mathematical 58,310 $41.26 $ 85,825Installation/Maint./Repair 46,300 $22.83 $ 47,492Architecture/Engineering 32,270 $41.84 $ 87,029Art/Design/Entertain/Sports/Media 19,200 $25.44 $ 52,913Protective Service 28,666 $21.57 $ 44,864Community/Social Serv. 14,890 $22.26 $ 46,309Life/Physical/Soc. Science 13,980 $34.74 $ 72,254

EmployeesHourly Wage

Annual Wage

LMI Projections

● Short-Term Projections► Industry and Occupation► 2 years; Through 2016► Sensitive to Business Cycles

● Long-Term Projections► Industry and Occupation► 10 years; Through 2022► Long-Term Planning

Long-Term Occupation ProjectionsDenver MSA

Source: LMI Projections, 2012-2022

Farming, Fishing, & Forestry

Legal

Community & Social Services

Life, Physical, & Social Science

Arts, Design, Entertainment, Sports, & Media

Protective Service

Architecture & Engineering

Production

Healthcare Support

Building & Grounds Cleaning & Maintenance

Installation, Maintenance, & Repair

Personal Care & Service

Management

Education, Training, & Library

Computer & Mathematical

Transportation & Material Moving

Healthcare Practitioners & Technical

Construction & Extraction

Business & Financial Operations

Food Preparation & Serving Related

Sales & Related

Office & Administrative Support

0 1000 2000 3000 4000 5000 6000 7000 8000 9000

Growth Openings Replacement Openings

Colorado’s Workforce Centers

● Help job seekers with job search► Assessments► Classes on interviewing, resumes, cover letters► Skills training (formal or on-the-job), as eligible

and as needed● Help employers find qualified candidates

► Customized training and recruitment● Connecting Colorado: labor exchange

website

Source: The LMI Training Institute

http://www.colmigateway.comLMI Website

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

Source: The LMI Training Institute

Denver MSA Sample Job Ads

Source: HWOL, August 21 2014

Top Hiring Employers

● PSA HEALTHCARE● IBM ● Robert Half International● Catholic Health Initiatives● Randstad ● Macy’s● SCL Health System, Inc.● WellPoint, Inc.

Source: HWOL, August 14 – 21, 2014

Questions