Transcript Document
Labor Market Intelligence for Decision Making Luke Greiner Regional Labor Market Analyst Labor Market Information Office What is the state of the economy? Current Situation of the State • August job growth rebounded adding +6,100 jobs on a seasonally adjusted basis with +5,700 from the private sector. This provides MN with a 2% OTY growth rate, U.S. is 1.8% • July’s loss of -4,200 was revised to just -100 • MN has gained 202,900 jobs since employment low of Sept ’09 • Gains were led by construction, professional and business services, manufacturing, information, and govt. • Unemployment dropped .2% to 4.3%, driven by a decline in the labor force. Labor force participation rate fell to 69.8%. Tied with IA for 3rd highest in country behind ND and NE. Our labor force has shrunk by -21,670 from 5 months of declines. Regional Trends, August 2014 OTY Numeric Employment Change Percent Employment Change 40,885 2.3% Duluth-Superior MN-WI 947 0.7% Rochester 973 0.9% St. Cloud 3,008 2.9% Mankato 1,369 2.6% Minnesota 56,311 2.0% 2,512,000 1.8% Metropolitan Statistical Area (MSA) Minneapolis-St. Paul MN-WI United States CES Data are August 2013 to August 2014. MN: Openings by industry Wholesale Trade, 4% All Other Industries, 21% Professional & Technical Services, 4% Finance & Insurance, 5% Educational Services, 6% Construction, 6% Health Care & Social Assistance, 20% Retail Trade, 15% Manufacturing, 11% Accommodation & Food Services, Perception vs. Reality • What is the most demanded occupation in Central MN? • Graduates from what associate degree program make the most money 1 year after gradation? Personal Care Aides Precision Production with a median wage of $19.10 per hour Labor Market Information Office • Each state produces employment and economic statistics in cooperation with U.S. Department of Labor’s Bureau of Labor Statistics. • LMI includes employment statistics, unemployment rates, wages and salaries, job projections and more. • LMI is the foundation for informed, market-responsive planning. www.mn.gov/deed/data Meet the Regional Analysis and Outreach Team TIM O’NEILL Twin Cities LUKE GREINER Central & Southwest MARK SCHULTZ South Central & Southeast CHET BODIN Northwest VACANT Northeast How do we get this information? From businesses • There are over 165,000 employers in Minnesota. • Over 388,000 people are self-employed, own their own micro-business, or work as contractors. From households • Minnesota’s population is 5.3 million. • Labor force topped 3 million workers in Minnesota. Would a car salesperson try selling you a vehicle without knowing what you want? • NO! If they did they would fail • When interviewing for a job you are selling yourself • Find out exactly what employers are looking for. www.workforceneeds.org www.mnworkforceneeds.org • Find out exactly what employers are looking for and what their challenges are in specific industries in specific regions. • Direct quotes from employers in Central MN: • "I've actually had nurses tell me, 'This isn't what I signed up for. I'm a nurse. I'm not a counselor.' And it's like, 'Actually, that's part of the job.“ • "It's crucial to us, in the positions that I recruit for, to have that Ag background. But it's not something that is as crucial as work ethic. If we can move somebody in that has the positive attitude—that will go over and above what needs to be done—we'll train them on the agronomy, or the technical, or whatever. That stuff can be learned a little bit easier than work ethic can be." Occupations in Demand (OID) • Lists of currently available career opportunities in a local labor market as determined by local labor market data. • Regional occupations are ranked by a Current Demand Indicator, which measures short-term demand for jobs. • Data updated twice a year. http://mn.gov/deed/oid Central Region Occupations In Demand EDR 6E Using OID - ISEEK • Job title is a link to the occupational description page on ISEEK. – – – – – – – – – – – Overview Wages & Outlook On the Job Other Titles used for the same occupation Education & Training Skills Tools & Technology Licensing & Certificates Jobs on minnesotaworks.net Other Similar Careers Related Industries Video Descriptions http://www.iseek.org/ www.minnesotaworks.net • Minnesota's official job bank • Free for employers and job seekers • Let employers search for you • Only legitimate jobs are posted Find out about the current job openings • Use the Job Vacancy Survey to find out details about the job openings in your area. Like what percent are part time and what the starting offer is. http://mn.gov/deed/data/data-tools/job-vacancy Graduate Employment Outcomes Tool • Brand new way to find out how much money college graduates make! Excited yet? You will be after graduating… OR Graduate employment outcomes tool • Brand new labor market tool! • https://apps.deed.state.mn.us/lmi/etd/default.aspx Get realistic wage expectations Major Matters Major Matters Find out how much jobs pay in specific regions of MN with OES http://mn.gov/deed/data/data-tools/oes/ OES Help for your resume • Use the tasks section • Use wage data for negotiating Questions?.... Other LMI products and publications Minnesota Economic TRENDS Quarterly magazine on economic topics Subscriptions available free of charge or on-line http://mn.gov/deed/trends Minnesota Employment REVIEW Monthly magazine on economic data and regional trends Includes Minnesota business development Available exclusively on-line http://mn.gov/deed/review LMI Helpline • LMI experts are available to answer your questions weekdays from 9 AM to 3 PM • Telephone 651-259-7384 , or toll free at 888-2341114 • Send questions by e-mail to [email protected] Let me know how I can help Luke Greiner Regional Labor Market Analyst Labor Market Information Office Phone: (320)-308-5378 [email protected]