Research & Planning doe.state.wy/LMI/oes.htm

Labor Market Information101: How to Get the Data You Need for Your BusinessPresented by Michele HolmesJune 25, 2013Research & PlanningWyoming Department of Workforce Serviceshttp://wyomingLMI.gov

Research & Planninghttp://doe.state.wy.us/LMI/oes.htm OUR ORGANIZATION: R&P is a separate, exclusively statistical entity. WHAT WE DO: R&P collects, analyzes, and publishes timely and accurate labor market information (LMI) meeting established statistical standards. OUR CUSTOMERS: LMI makes the labor market more efficient by providing the public and the public’s representatives with the basis for informed decision making.

What is LMI?http://www.wyominglmi.gov • Labor Market information, or LMI, refers to a variety of data associated with the supply and demand for workers. This includes information on the labor force, employers, industries, occupations, wages, and skills … just to name a few! • Labor force = supply of workers and their characteristics • Industries = the type of firm for which a person works (health care) • Occupations = the specific set of tasks performed by an individual (registered nurse) • Wages = what workers make and what employers can expect to pay • Skills = education and training requirements for different occupations Source: milmi.org

Agenda • Core LMI: What information is available and why is it important? • How to find the information you want • Other R&P Resources • Questions

Core LMI • What is a competitive wage for my industry? • Occupational Employment Statistics (OES) • How is my local economy doing? • Local Area Unemployment Statistics (LAUS) • How many are employed in my industry and what do they earn? • Quarterly Census of Employment and Wages (QCEW) • What’s my risk for Workers’ Compensation Claims? • Census of Fatal Occupational Injuries (CFOI) Source: milmi.org

Occupational Employment Statistics (OES) • What it is: A semi-annual survey of nonfarm establishments, providing annual employment and wage estimations for over 800 occupations. In Wyoming, OES estimates are available at the national, state, and county level. • Answers: • What is the typical wage for an occupation? • How much can I expect to earn over the course of my career? • How do wages for this occupation vary by region? • What occupations are growing? • What occupations should we be training jobseekers for?

Occupational Employment Statistics (OES)http://doe.state.wy.us/LMI/oes.htm

Benefits Survey http://doe.state.wy.us/LMI/benefits.htm What it is: annual survey of benefits offered by Wyoming employers Answers: • How competitive is my compensation package? • What industries offer the most benefits?

Benefits in Wyominghttp://doe.state.wy.us/LMI/benefits.htm Annual benefits publication Since 1999 Health care, retirement, paid holidays, paid sick leave, etc. By industry, firm size, etc.

Local Area Unemployment Statistics (LAUS)http://doe.state.wy.us/LMI/laus.htm • Estimates the unemployment rate and a count of the labor force – employed and unemployed – in an area. • LAUS is a count of persons, not jobs • Based on where people live • Answers: • How is my local economy doing?

Local Area Unemployment Statistics www.wyominglmi.gov

Local Area Unemployment Statistics (LAUS)http://doe.state.wy.us/LMI/laus.htm

Quarterly Census of Earnings and Wages (QCEW) What it is: A quarterly count of employment and wages, reported by employers. The QCEW covers 98% of employment and is available at the national, state, county and MSA level. • Employers use the QCEW to compare their industry’s wages to other sectors/areas. Jobseekers use the data to identify growing and declining industries. • Source of the QCEW data is the Quarterly Unemployment Insurance Tax File • Answers: • What are the high-paying sectors in my industry? • How does the pay in my industry compare to other states?

Quarterly Census of Employment and Wages (QCEW)http://doe.state.wy.us/LMI/toc_202.htm

Review • Wages by Occupation = OES • Wages & Employment = QCEW • Local Unemployment Statistics = LAUS

Industry and Occupational Projections • What they are: short- and long-term estimates of demand by occupation and industry – available at the state, regional, and MSA level. • Answers: • What occupations are in highest demand today? • What occupations will grow over the next decade? • Will employers have difficulty finding workers in certain fields? • Do I need to raise my compensation to remain competitive? • What curriculum should our institutions teach?

Industry and Occupational Projectionshttp://doe.state.wy.us/LMI/projections.htm Industry: The type of firm for which a person works Occupation: A specific task or set of tasks performed by an individual Note: Projections based on historical trend line. Cannot account for certain factors.

Industry Projectionshttp://doe.state.wy.us/LMI/projections.htm Help determine if an industry is projected to contract or expand over the next decade

Census of Fatal Occupational Injuries (CFOI)http://doe.state.wy.us/LMI/safety.htm

Workers’ Compensation Claimshttp://doe.state.wy.us/LMI/safety.htm Initial and continued claims Published quarterly (January, April, July, October) Data used in more complex research and for feature articles Published by industry Decadesof data

New Hires Surveyhttp://doe.state.wy.us/LMI/newhires.htm • What it is:R & P survey, started in 2009 • Mailed quarterly to Wyoming employers • Most recent data is through 2012Q2 • Focuses on the job, not the person • New hire is someone who has not worked for that employer before Answers: • What skills do employers value?

New Hires Survey: Educationhttp://doe.state.wy.us/LMI/newhires.htm

New Hires Surveyhttp://doe.state.wy.us/LMI/newhires.htm

New Hires Survey: Turnoverhttp://doe.state.wy.us/LMI/newhires.htm

Earnings in Wyoming by County, Industry, Age, and Gender, 2000-2012http://doe.state.wy.us/lmi/earnings_tables/2013/index.html

Custom Research: A Decade Laterhttp://doe.state.wy.us/LMI/w_r_research/A_Decade_Later.pdf

Custom Research: Monitoring School District Human Resource Cost Pressureshttp://doe.state.wy.us/LMI/education_costs.htm Wyoming Legislature funded Research & Planning to provide a comparison of employment and wages in public schools in Wyoming and surrounding states.

Wyoming Labor Force Trendshttp://doe.state.wy.us/LMI/trends.htm Monthly Features: Local Area Unemployment Statistics (LAUS) Employment statistics Economic indicators Unemployment Insurance (UI) claims Quarterly Features: Quarterly Census of Employment & Wages (QCEW) Wage Records data Quarterly turnover statistics Workers’ Compensation Claims Sign up for Wyoming Labor Force Trends http://doe.state.wy.us/LMI/puborder.htm

Special Publicationshttp://doe.state.wy.us/LMI/publications.htm http://doe.state.wy.us/LMI/occasional/occ6.pdf http://doe.state.wy.us/LMI/ppaca/aca2012.pdf http://doe.state.wy.us/LMI/dir_lic/WY_Licensed_Occs_Fall_2011.pdf

Conclusion • R&P works to make the Labor Market more efficient by publishing information that allows our customers to make evidence-based decisions. • Some of our customers include: • College of Heath Sciences, University of Wyoming • Laramie County Community College • National Center for Education Statistics • Wyoming Department of Health • Department of Education & Department of Labor Grant applicants • Local Business & Local Press

Research & Planning Wyoming Department of Workforce ServicesP.O. Box 2760246 S. Center St. Casper, WY 82601(307) 473-3807 DWS-RESEARCHPLANNING@wyo.gov http://wyomingLMI.gov Michele Holmes Public Relations Specialist Michele.Holmes@wyo.gov

Research & Planning doe.state.wy/LMI/oes.htm