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Labor Market Information Program. Labor Market Statistics Center. Objectives. Introduction to the Labor Market Information (LMI) program Overview of: Definitions Mission Products / Data Series Customers. What is LMI?. Labor force, employment, unemployment, unemployment rates

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Presentation Transcript
labor market information program

Labor Market Information Program

Labor Market Statistics Center

objectives
Objectives
  • Introduction to the Labor Market Information (LMI) program
  • Overview of:
    • Definitions
    • Mission
    • Products / Data Series
    • Customers
what is lmi
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
mission
Mission
  • The LMI program mission is to produce, analyze, and deliver timely and reliable labor statistics to improve economic decision-making
lmi produced delivered
LMI Produced / Delivered
  • 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
who are customers of lmi
Who are Customers of LMI?
  • Workforce / Economic Development Decision-Makers
  • Employers / Job Seekers
  • Education / Welfare Planners
  • Career Counselors / Teachers
  • Economists / Policy Makers
  • Elected Officials
  • Media
lmi facts
LMI Facts
  • 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
what are lmi data definitions
What Are LMI Data Definitions?
  • 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
unemployment rates florida and the united states recessions 1974 2012
Unemployment Rates, Florida and the United States – Recessions 1974 – 2012

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.

nonagricultural employment by industry florida
Nonagricultural Employment by Industry,Florida

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.

wages by industry
Wages by Industry,

Florida

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

fastest growing occupations florida forecast to 2019
Fastest-Growing Occupations*Florida, Forecast to 2019

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

what is the most common misconception concerning lmi
What Is the Most Common Misconception Concerning LMI?
  • 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 are the types of unemployed
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)
education and training pay 2011 annual average
Education and Training pay …2011 Annual Average

Unemployment Rate(Percent)

Median Earnings (Dollars)

Doctoral degree

Professional degree

Master’s degree

Bachelor’s degree

Associate degree

Some college, no degree

High-school graduate

Some high-school, no diploma

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.

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