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Wisconsin's Changing Economy and Workforce

Wisconsin's Changing Economy and Workforce. May 2, 2014 Rehabilitation and Transition Conference. Context. Not Seasonally Adjusted. Source: BLS – CES data series. Seasonally Adjusted. Source: BLS – CES data series. With apologies to Bob Dylan The times they are a changing.

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Wisconsin's Changing Economy and Workforce

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  1. Wisconsin's Changing Economy and Workforce May 2, 2014 Rehabilitation and Transition Conference

  2. Context

  3. Not Seasonally Adjusted Source: BLS – CES data series

  4. Seasonally Adjusted Source: BLS – CES data series

  5. With apologies to Bob DylanThe times they are a changing... • Between 2010 and 2030 the ratio of those aged between 16 and 64 will decrease by 5.9 percent. • In comparison, from 1990 to 2010 the ratio increased by 2.4 percent. • In 1990, 1 out of 4 people in Wisconsin were under the age of 18 (26.4 percent) • By 2030, that ratio will fall to almost 1 in 5 (21.7 percent) This is huge

  6. Change Workforce = Change Work • Employers are questioning people as an investment • Brother International Corporation with SCORE conducted a survey of businesses and reported that most small businesses invest in technology over people (March 2014) • There is a need for skilled workers to replace those who “age out” of the workforce • Failure to find those workers will force employers to move toward technical solutions

  7. Industries with Older Workers Source: Wisconsin Local Employment Dynamics 2013(1) U.S. Census Bureau

  8. Growing Industries through 2020 • Growing industries in Wisconsin • Specialty Trade Construction • Health Care • Manufacturing • Nonmetallic mineral product manufacturing • Primary metal manufacturing • Fabricated metal product manufacturing • Wholesale Trade • Merchant wholesalers, durable goods • Transportation and Warehousing • Financial Activities • Professional and Business Services • Leisure and Hospitality Note: Bolded industries are growing faster than that of the state

  9. Growth or Replacement? • The average age of an industry is an indication of how much churning we can expect • Churn equal job opportunities

  10. Replacement Rates by Industry Highlighted industries have higher than state average Source: Wisconsin Local Employment Dynamics 2013(1) U.S. Census Bureau

  11. STEM Jobs • These occupations can be a way to help your clients • Technical colleges and others are pushing this approach • About half of the jobs do not require a 4-Year Degree • Manufacturing processes • Some Retail • Health Care • Public Administration

  12. Skills or Experience? • Transferable skills • Training • Generally, not ability dependent Meaning? • Most online hiring systems are not geared to assist you and your clients • HR recruiters are ill prepared to assist you • You need to be prepared to help them

  13. Tools "Icon made by Freepik from Flaticon.com"

  14. Tools You’ll Need • O*Net • http://online.onetcenter.org • MySkillsMyFuture • http://myskillsmyfuture.org • Skills Explorer • http://skillexplorer.wisconsin.gov/Search.aspx

  15. The DOT has been replaced • As of 1998, the Dictionary of Occupational Titles is no longer supported or updated • O*Net is now the official source • Abilities both in terms of level and importance may help

  16. Social Security and O*Net • There are recognized limitations when using O*Net for disability determinations • In 2008, the Social Security Administration (SSA) created a panel, the Occupational Information Development Advisory Panel, to address shortcomings • Current models are in the testing stage • Preproduction testing is scheduled to be completed during Fiscal Year 2015 • For more information: http://www.socialsecurity.gov/disabilityresearch/occupational_info_systems.html

  17. MySkillsMyFuture.org • Takes into account some disabilities • Local job postings • Local training providers identified • Related Occupations • Identifies needed skills to transfer jobs

  18. Questions: Nelse Grundvig anelse.grundvig@dwd.wisconsin.gov 608.266.2930

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