Background

• A growing skills gap threatens our region’s economic competitiveness – 42,000+ jobs open in our region today, despite 145,000+ people looking for work.

– Half of all businesses in our region expect to struggle to find qualified workers for in-demand jobs in the next 3-5 years. – Nationwide, the U.S. Chamber estimates that at least 3 million jobs go unfilled due to the skills gap; a figure expected to reach 7 million by 2018. – Economists estimate that if we had skilled workers to match job openings, our unemployment rate could be 2-3 percentage points lower.

Intended Outcomes

• • • Provide

actionable data

to help prepare current and future workers for in-demand jobs by:

Identifying new sectors to build career pathways Informing academic programs Counseling jobseekers and students

Project Scope

• Forecasting done by

UC

and

NKU

• Covers the

fifteen county region

• Utilizes new

Bureau of Labor Statistics

projections for

800+ occupations

Key Findings

5

Observation:

The Cincinnati region is projected to grow, and remain one of the largest economies of our competitor regions.

Total Projected Jobs by 2020

Numeric growth 2010-2020: +106,115 Percent growth 2010-2020: +11% Openings 2010-2020: +338,632

Total Projected Job Openings 2020

Net New Replacement

Total

106,115 (31%) 232,517 (69%)

338,632

Total Projected Jobs in Peer Regions by 2020

Observation:

Occupations related to healthcare, education, business, finance, and technology are the fastest growing and best paying.

Major Occupational Groups by Number of Jobs

Three largest occupational groups account for 1 in 3 jobs in 2020

12 Largest Growing Occupational Groups by Median Wage and Growth Rate

Observation:

Education or training beyond high school is required for well-paying jobs.

Education, Training, Experience the Key to Higher Wages

Jobs Paying $33,130+

1/2

of jobs paying over median wage ($33,130) will require a post-secondary credential

9/10

of jobs paying over the median wage will require a post-secondary credential, work experience, and/or on-the-job training beyond one year

Summary

1. The Cincinnati region is projected to grow, and remain one of the largest economies of our competitor regions.

2. Occupations related to healthcare, education, business, finance, and technology are the fastest growing and best paying.

3. Education or training beyond high school is required for well-paying jobs.

Opportunities

1. Aggressive new strategies in economic development should accelerate this growth trajectory, making these projections conservative. 2. Education and training programs should target growing occupation groups that offer strong wages and have a significant number of jobs.

3. Pathways should be developed for current workers and students to obtain at least one year of education or training beyond high school that results in an industry-recognized credential and is tied to in demand occupations.

Next Steps

Building the Talent Supply Chain

• • •

Assess Employer Needs

Collect and analyze current and future employer skill needs through industry councils, employer surveys, employer outreach, and economic research.

Skill Up the Current Workforce

Develop and align education and training programs with industry needs to upgrade the skills of current workers and retool jobseekers for in-demand careers.

Prepare the Pipeline

Build greater career awareness and stronger career pathways to prepare students for in-demand careers.

TALENT SUPPLY CHAIN P – 12 Education WORKFORCE SUPPLY Post- Secondary Education Workforce Training & Lifelong Learning QUALIFIED WORKERS EMPLOYER DEMAND Health Care Advanced Manufacturing Construction Information Technology Finance / Insurance Other Sectors FUTURE WORKFORCE CURRENT WORKFORCE Prepare the Pipeline

Strategy: Build greater career awareness and stronger career pathways to prepare students for in-demand careers.

Partners: districts and schools, higher education and career training institutions, employers, community-based organizations

Skill Up the Current Workforce

Strategy: Develop and align education and training programs with industry needs to upgrade the skills of current workers and retool jobseekers for in-demand careers.

Partners: WIBs, higher education and career training institutions, employers, community-based organizations

EMPLOYER SKILL REQUIREMENTS Assess Employer Needs

Strategy: Collect and analyze current and future employer skill needs through industry councils, employer surveys, employer outreach, and economic research.

Partners: chambers, economic development agencies, industry associations

SUPPLY CHAIN OPTIMIZATION STRATEGIES

Next Steps

Skill Up the Current Workforce

Partners for a Competitive Workforce

– A regional cross-sector partnership focused on growing the skills of the workforce to meet employer demand.

– 150+ partners, including businesses, workforce investment boards, chambers, educational institutions, labor, service providers and philanthropic funders in tri-state region.

– Key strategy: building career pathways that align education with employer needs in priority industries • • Current sectors: health care, manufacturing, construction Potential new sectors: IT, finance/insurance

Next Steps

Skill Up the Current Workforce

Partners for a Competitive Workforce

– Key results since 2008: • 6,000+ trained in three career pathways since 2008, with 80%+ completing training and earning 4,000+ credentials and an estimated 60-70% job placement • Demonstrating positive ROI for employers through reduced turnover and recruitment costs • • • 25M+ leveraged from public, private, philanthropic sources Built common workforce data system for 50+ agencies Helped launch formal partnership of four workforce boards in three states called Employers First to better serve employers

Next Steps

Prepare the Pipeline

Talent Pipeline Initiative

– A joint initiative of The Strive Partnership and Partners for a Competitive Workforce – • • • • Key strategies: Develop career pathway programming in the region’s high schools and middle schools Engage employers in setting curriculum standards, helping design programs of study, identifying industry-recognized credentials, and providing instructors and mentors Enhance career counseling programming and professional development for teachers and counselors Expand work experience opportunities