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Labor Market Info rm ation ( L M I ) PowerPoint PPT Presentation


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Labor Market Info rm ation ( L M I ) Arizona Workforce Informer Labor Market Information Research Administration Arizona Department of Commerce www.workforce.az.gov Arizona Workforce Informer People are more than statistics People are more than statistics SO What? What are the practical

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Labor Market Info rm ation ( L M I )

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Labor market info rm ation l m i l.jpg

Labor Market Information( L M I )

Arizona Workforce Informer


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Labor Market InformationResearch AdministrationArizona Department of Commercewww.workforce.az.govArizona Workforce Informer


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People are more than statistics

People are more than statistics

SO

What?

What are the

practical

applications?

What can I use?


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Labor Market Information -- SO WHAT!

  • Two words : INFORMED DECISIONS

  • A person (yourself, client, student, relative, friend) invests time, effort, dreams, money, & plans for a career -- only to find later that there is not a good market for the occupation.

  • THAT’S A BIG SO WHAT!

  • Career Advice – We have all heard “Do what you love” – good advice . . .

  • But make sure there is a market for it. That’s where Labor Market Information comes in.


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But, IS LMI TMI? Or TMA?

  • Acronyms

    • TMA, LAUS, CES, QCEW, OES, TERM, PEBKAC

  • Key – Different User groups

    • Job Seekers, Students, Parents, General Public

    • One Stop Front Line Staff, Employment Specialists, Job Developers, Counselors, Teachers

    • Labor Market Analysts, Researchers, Economists

    • Decision makers in Education, Business, & Government; Economic Developers, Policy Makers


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Different data sources & uses

  • Monthly survey of businesses – estimate of employment by industry LINK

  • Monthly survey of households – estimates of unemployed & employed – unemployment rate LINK

  • Quarterly count of employment & wages fromLINKUnemployment Insurance reports (up to 98% of employers)

  • Annual survey of occupational wages & employment LINK

  • Forecasts of Industries & Occupations LINK

  • Census & Population estimates & forecasts LINK


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How Occupations & Industries are Defined & Organized

  • Occupation (describes what a worker does)

    • Standard Occupation Classification (SOC)

    • Six digit occupation code (O*NET has eight)

    • The more digits, the more detail (hierarchal)

  • Industry (describes what the business does)

    • North American Industry Classification System (NAICS)

    • Six digit industry code

    • The more digits, the more detail(hierarchal)


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SOC Occupational Hierarchy example


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NAICS Industry Hierarchy example


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NAICS Industry Hierarchy example


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Two main format options for Labor Market data on the Workforce Informer website

  • “Ready made” tables and publications

  • Dynamic, interactive data tables from online database queries


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www.workforce.az.gov

Navigation tips for Workforce Informer website

1. Page tabs

2. Left side Menu bar

3. Search box

4. Contact us

“If all else fails,ask directions”

5. content index

Alphabetical list of contents


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Labor Market Information Graphs

Click here for graphs


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How can Labor Market Statistics help with Performance Goals and Planning?(help people)

Goal: Training and placing people in high demand occupations

1st Step: Identify the high demand occupations in the local job market


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Demand Occupations

How can we identify

high demand occupations?

  • Fast Growing?

  • Most Job Openings?

  • High Paying?

  • High Skill?

  • Low Turnover?

  • Training/Education Requirements?


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Comparing Arizona Occupations(see handouts 2, 3, & 4)

  • Short sample lists of occupations ranked high to low based on:

    • Growth rate (handout #2)

    • Job openings (handout #3)

    • Wage (handout #4)

  • Ranking allows for easier comparisons

    • Many fast growing occupations do not have the most job openings

    • Occupations with the most openings are not necessarily high paying

    • Education & training requirements can limit choices

  • Can we combine this in one report instead of three?


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Training& Education ResourceModel T E R M -- ranks occupations by:

YES! –

  • Percentage growth rates

  • Number of projected openings

  • Average Wages

  • O*NET Skills

  • Turnover Ratios (Growth/Separations)

  • Education/ Training Level Requirements

  • All in one report!


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Handout #5

Training/ Education

TERM diagram:

High Skill

Most Job Openings

Fast Growing

Top TERM Occupations

Low Turnover

High Pay


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Different scenarios, different options4 examples

  • “All” occupations listing (Handout #5) (notes #6)

    • No restrictions on training & education codes (1-11)

    • 10 year employment forecast (2006 - 2016)

  • Top “No College Required” Occupations (Handout #7)

    • Limited to “no college degree” occupations (Training & Ed codes 7-11)

    • 10 year employment forecast (2006-2016)

  • Top Associates Degree Occupations (Handout #8)

    • Limited to Associates Degree occupations (Training & Ed code 6)

    • 10 year employment forecast (2006-2016)

  • Top “On the Job Training” Occupations (Handout #9)

    • Limited to “OJT” occupations (Training & Ed codes 9 - 10)

    • 10 year employment forecast (2006-2016)


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Occupation Page

Where can I find the TERM reports?

1.On home page left menu, select “economy”

2. Then click “occupations”

Expanded versions of handout # 5

Expanded versions of handouts #2, 3 & 4


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Occupation Projections


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Occupation Projections page down


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Wages Page

For detailed wage data, select “wages & income” after selecting economy


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Wages Drop Down Menu


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Occupation Wage by Industry

Occupation Wages by Industry

Occupation=Employee

Industry=Employer

Mean = Average

10th%ile = Bottom 10 percent make this amount or less

Median = Middle

90th%ile=Top 10 percent make this amount or more


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Next, Tour of Website :www.workforce.az.govArizona Workforce Informer

Research AdministrationArizona Department of Commerce


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