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Arizona Labor Market Info rm ation ( L M I )

Arizona Labor Market Info rm ation ( L M I ). Office of Employment and Population Statistics. Labor Market Information Office of Employment and Population Statistics Arizona Department of Administration www.azstats.gov Formerly known as the Arizona Workforce Informer website. Agenda.

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Arizona Labor Market Info rm ation ( L M I )

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  1. Arizona Labor Market Information ( L M I )

  2. Office of Employment and Population Statistics Labor Market InformationOffice of Employment and Population StatisticsArizona Department of Administration www.azstats.govFormerly known as the Arizona Workforce Informer website

  3. Agenda • Who we are and what we do • Audience questions and comments: • Before, during, and after • Email or phone for later questions • Background: Why, What, & Where of Labor Market Information • Basic Terminology • Brief Industry Overview • Brief Occupation Overview • Employment • Wages

  4. People are more than statistics People are more than statistics SO What? What are the practical applications? What can I use?

  5. 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.

  6. 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

  7. Different data sources & uses • Monthly survey of businesses – estimate of employment by industry • 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

  8. 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)

  9. SOC Occupational Hierarchy example

  10. NAICS Industry Hierarchy example

  11. NAICS Industry Hierarchy example

  12. 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

  13. www.azstats.gov

  14. Office of Employment and Population Statistics

  15. Office of Employment and Population Statistics

  16. 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

  17. Demand Occupations How can we identify high demand occupations? • Fast Growing? • Most Job Openings? • High Paying? • High Skill? • Low Turnover? • Training/Education Requirements?

  18. Sample Comparisons of 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?

  19. 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!

  20. Handout #5 Training/ Education TERM diagram: High Skill Most Job Openings Fast Growing Top TERM Occupations Low Turnover High Pay

  21. Sample Options & Scenarios 3 examples • “All” occupations listing (Handout #5) (notes #6) • No restrictions on training & education requirements • 10 year employment forecast (2008 - 2018) • Top Associates Degree Occupations (Handout #7) • Limited to Associates Degree occupations • 10 year employment forecast (2008-2018) • Top “On the Job Training” Occupations (Handout #8) • Limited to “OJT” occupations • 10 year employment forecast (2008-2018)

  22. Where can I find the TERM reports?

  23. On left menu, Economic Analysis, then Employment Forecasts

  24. 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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