Today and Tomorrow: A Look at Idaho’s Top Industries and Occupations

1. Today and Tomorrow:A Look at Idaho’s Top Industries and Occupations Sara Scudder Communications and Research September 10, 2008

2. Navigating Idaho’s Economy • Graying work force • Unemployment and the business cycle • Recent employment • Trends • HOT Industries • HOT Jobs

3. Graying Work Force

4. 2006 Median Age by State Source: 2006 Population Estimates from the US Census Bureau

5. 2006 Percent of Residents Aged 65+ Source: 2006 Population Estimates from the US Census Bureau

6. Estimated Population Shift Source: EMSI

8. Labor Force and the Economy

10. Idaho Nonfarm Jobs (1998-2008) Source: IDOL QCEW

13. The Future….

14. Idaho’s Employment Outlook • Employment in Idaho is projected to increase more than 20 percent from roughly 711,000 in 2006 to 854,000 in 2016. • If annual job replacements are also taken into account, job openings will rise to more than 30,000 annually.

15. What is an Industry? • An industry is a group of establishments that perform similar processes used to produce goods or services. • An establishment is a single physical location where business is conducted or where services or industrial operations are performed.

16. How does Idaho’s industry growth compare to the nation’s? Source: BLS 2006-2016 Industry Projections and IDOL 2006-2016 Industry Projections.

17. What is are HOT Industries? • Hot industries are those that on average rank high in three major criteria — • the abundance of jobs in the economy, • jobs which are growing the fastest and • jobs with the highest pay.

18. Idaho’s Hot Industries… 1 Ambulatory Health Care Services • Change in Employment: +10,677 • Growth Percentage: 42.3% • Median Hourly Wage: $15.08 2 Local Government, Excluding Education and Hospitals • Change in Employment: +7,506 • Growth Percentage: 27.7% • Median Hourly Wage: $18.37 3 Administrative and Support Services • Change in Employment: +16,958 • Growth Percentage: 43.2% • Median Hourly Wage: $12.22 Source: IDOL 2006-2016 Industry Projections.

19. Idaho’s Hot Industries… 4 Telecommunications • Change in Employment: 2,614 • Growth Percentage: 67.3% • Median Hourly Wage: $18.84 5 Specialty Trade Contractors • Change in Employment: 9,812 • Growth Percentage: 29.7% • Median Hourly Wage: $14.72 For a list of Idaho’s Hot Industries visit the Idaho Department of Labor’s LMI Web site: lmi.idaho.gov Source: IDOL 2006-2016 Industry Projections.

20. What are Occupations? • Occupations are classified by similar job duties rather than job title. • Workers within an occupation may have many different job titles.  

21. What are HOT Jobs? • Hot Jobs are those that on average rank high in three major criteria — • the abundance of jobs in the economy, • jobs which are growing the fastest and • jobs with the highest pay.

22. Idaho’s HOT Jobs… 1 Registered Nurses • Change in Employment: +3,617 • Growth Percentage: 36.7% • Annual Openings: 523 • Median Hourly Wage: $25.25 • Required Education: Associate Degree 2 Pharmacists • Change in Employment: +595 • Growth Percentage: 42.9% • Annual Openings: 84 • Median Hourly Wage: $45.10 • Required Education: First Professional Degree Source: IDOL 2006-2016 Occupational Projections.

23. Idaho’s HOT Jobs… 3 Business Operations Specialists, All Other • Change in Employment: +1,537 • Growth Percentage: 34.4% • Annual Openings: 202 • Median Hourly Wage: $22.61 • Required Education: Bachelor’s Degree 4 Dental Hygienists • Change in Employment: +477 • Growth Percentage: 50.7% • Annual Openings: 66 • Median Hourly Wage: $33.70 • Required Education: Associate Degree Source: IDOL 2006-2016 Occupational Projections.

24. Idaho’s HOT Jobs… 5 Computer Software Engineers, Applications • Change in Employment: 406 • Growth Percentage: 51.2% • Annual Openings: 53 • Median Hourly Wage: $37.59 • Required Education: Bachelors Degree Source: IDOL 2006-2016 Occupational Projections.