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Colorado Department of Labor and Employment Looking to Colorado’s Future Alexandra Hall Director, Labor Market Information.

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Presentation on theme: "Colorado Department of Labor and Employment Looking to Colorado’s Future Alexandra Hall Director, Labor Market Information."— Presentation transcript:

1 Colorado Department of Labor and Employment Looking to Colorado’s Future Alexandra Hall Director, Labor Market Information

2 What we’ll cover today:  Basic Industry/Occupation Concepts  Current economic climate  Forecasting Process  Hot Industries  Hot Occupations

3 Colorado Employment and Recessions "A recession is a significant decline in activity spread across the economy lasting more than a few months."

4 Industry Individual companies conducting similar business  Agriculture  Mining  Construction  Manufacturing

5 Industry Individual companies conducting similar business  Tourism  Hi-Tech  Bio-Tech

6 Occupation Work in which people engage to earn a living  Accountant  Secretary  Flight Attendant  Surgeon  Software Engineer  Network Analyst

7 Occupation Work in which people engage to earn a living  Customer Service Representative  Administrative Assistant

8 What is Labor Market Information?  Industry Employment & Wages  Occupation Employment & Wages  Demand for Workers – Current Demand – Future Demand

9 Employment Outlook: The U.S. and Colorado through 2012

10 Employment Outlook: Projections Process  Labor force –Economic growth –Industry employment –Occupational employment

11 Population growth rates Annual rates of change Source: Bureau of Labor Statistics projected

12 The civilian labor force will grow by 1.1 percent annually from 2002 to Annual rates of change projected Source: Bureau of Labor Statistics

13 The size of the civilian labor force ages will increase significantly Projected numerical change, Source: Bureau of Labor Statistics 65 and over 55 to to to to to 24

14 Labor force participation rate by gender Source: Bureau of Labor Statistics Percent, and projected Total Men Women projected

15 Labor force participation of men and women age 55 and older, Men Women Percent Source: Bureau of Labor Statistics

16 Women’s labor force growth outpaces men’s Percent change Source: Bureau of Labor Statistics projected

17 Women’s share of the labor force continues to edge up WomenMen Source: Bureau of Labor Statistics Percent of labor force projected

18 Labor force growth rates of minorities outpaces whites Percent change, Source: Bureau of Labor Statistics

19 Workers by Race Source: Bureau of Labor Statistics Percent of labor force

20 Colorado

21

22 Employment Outlook: Projections Process  Labor force  Economic growth –Industry employment –Occupational employment

23 A healthy economy is projected through 2012 Source: Bureau of Labor Statistics Selected economic variables GDP (annual growth rate, projected ) Unemployment rate, 2012 (assumed) Productivity (annual growth rate, projected )

24 The projections assume a 3.0 percent real GDP growth rate Average annual rate of change projected

25 Annualized growth rates of labor productivity during recessions Average annual rate of change

26 Percent The projections assume a 5.2 percent unemployment rate

27 Employment Outlook: Projections Process  Labor force  Economic growth  Industry output and employment –Occupational employment

28 Nationally, total employment is projected to increase by 4.8 percent or 21.3 million. Nonfarm wage and salary employment is projected to increase by 21.6 million Millions of jobs projected Total employment Nonfarm wage and salary employment Source: Bureau of Labor Statistics

29 Total employment is projected to increase by 23 percent or 551,600. Nonfarm wage and salary employment is projected to increase by 272,000 Millions of jobs Colorado

30 Service-providing industries continue to lead employment growth Goods-producingService-providing projected Source: Bureau of Labor Statistics Millions of nonfarm wage and salary jobs

31 Manufacturing, financial activities and professional and business services accounted for nearly half of total output in 2002 Billions of dollars Service Providing Goods Producing Source: Bureau of Labor Statistics

32 Education and health services and professional and business services accounted for nearly 40 percent of employment in 2002 Thousands of nonfarm wage and salary jobs Service Providing Goods Producing Source: Bureau of Labor Statistics

33 Education and health services and professional and business services account for nearly half of projected total employment growth Thousands of nonfarm wage and salary jobs, Service Providing Goods Producing Source: Bureau of Labor Statistics

34 Three of the 10 fastest-growing detailed industries over thru 2012 are computer related, two are health related. Software publishers Management, scientific and technical consulting services Community care facilities for the elderly Computer systems design and related services Employment services Vocational rehabilitation services Ambulatory health care services Water, sewage and other systems Internet services and data processing services Child day care services Source: Bureau of Labor Statistics Percent change

35 Of Colorado’s 10 fastest-growing industries thru are health related, 2 are transportation related and 2 are manufacturing related.

36 Source: Bureau of Labor Statistics Thousands of nonfarm wage and salary jobs The 10 detailed industries with the most new jobs, projected thru 2012

37 Colorado’s 10 detailed industries with the most new jobs, projected thru 2012

38 Detailed industries with faster than average employment and output growth  Detailed industries with: – employment growth greater than 14.8% – and average annual output growth rates greater than the overall average of 3.3%.  These industries accounted for: – 21.3% of employment in 2002 – and are projected to account for 45% of employment growth from National

39 Detailed industries with faster than average employment and output growth  If you include industries with: –faster than average employment growth –and average annual output growth of at least 2% per year:  These industries accounted for: – 38% of employment in 2002 – and are projected to account for 65% of employment growth thru 2012 National

40 Detailed industries with faster than average employment growth and output growth greater than 2% per year  Manufacturing –Plastics product manufacturing (128,000)* –Animal slaughtering and processing (80,000) –Architectural and structural metals mfg (77,000) –Pharmaceutical and medicine mfg (68,000) –Other wood product mfg (67,000) –Other general purpose machinery mfg (51,000) –Cement and concrete product mfg (48,000) –Metalworking machinery mfg (34,000) –Veneer, plywood mfg (21,000) –Forging and stamping (18,000) * Numbers in parentheses are projected employment changes, National

41 Detailed industries with faster than average employment growth and output growth greater than 2% per year  Utilities and waste management –Water, sewage and other systems (23,000)*  Transportation and warehousing –Truck transportation, couriers and messengers (507,000) –Scenic and sightseeing transportation (100,000) * Numbers in parentheses are projected employment changes, National

42 Detailed industries with faster than average employment growth and output growth greater than 2% per year  Information –Internet services, data processing (244,000)* –Software publishers (174,000) –Motion picture and sound recording industries (116,000)  Financial activities –Non-depository credit intermediation (196,000) –Consumer goods and general rental centers (131,000) –Securities, commodity contracts (124,000) –Commercial and industrial machinery rental (41,000) * Numbers in parentheses are projected employment changes, National

43 Detailed industries with faster than average employment growth and output growth greater than 2% per year  Education and health services –Offices of health practitioners (1,229,000)* –Ambulatory health care services (670,000) –Hospitals (632,000) –Individual, family, community and voc rehab services (597,000) –Nursing care and residential mental health facilities (559,000) –Child day care services (382,000) * Numbers in parentheses are projected employment changes, National

44 Detailed industries with faster than average employment growth and output growth greater than 2% per year  Leisure and hospitality –Food services and drinking places (1,337,000)* –Amusement, gambling, and recreation industries (410,000) –Traveler accommodation (293,000) –Performing art companies, promoters, agents, managers, and independent artists (37,000) –Museums, historical sites, and similar institutions (24,000) –RV parks, recreational camps, and rooming and boarding houses (8,000) * Numbers in parentheses are projected employment changes, National

45 Detailed industries with faster than average employment growth and output growth greater than 2% per year  Other services –Religious, grant making and giving services, and social advocacy organizations (428,000) * –Automotive repair and maintenance (149,000) –Personal care services (144,000) –Other personal services (51,000) –Commercial and industrial equipment (except automotive and electronic) repair and maintenance (29,000)  State and local government –State and local electric utilities (14,000) * Numbers in parentheses are projected employment changes, National

46 78,480 Colorado Employment Growth thru 2012

47 Detailed industries with faster than average employment growth greater than 2.3% per year Colorado  Professional, Scientific & Technical Services (61,023) – Computer Systems Design and Related Services (24,139) – Management, Scientific, and Technical Consulting Services (7,658) – Specialized Design Services (977) – Architectural, Engineering, and Related Services (14,369) – Other Professional, Scientific, and Technical Services (3,866) – Accounting, Tax Preparation, Bookkeeping, and Payroll Services (3,456) – Scientific Research and Development Services (2,518)

48 Colorado Detailed industries with faster than average employment growth greater than 2.3% per year  Health Care & Social Assistance (78,480) –Community Care Facilities for the Elderly (7,758) –Other Ambulatory Health Care Services (1,811) –Home Health Care Services (4,898) –Outpatient Care Centers (5,082) –Individual and Family Services (5,670) –General Medical and Surgical Hospitals (22,540) –Offices of Physicians (11,275) –Offices of Other Health Practitioners (3,225) –Child Day Care Services (4,329) –Offices of Dentists (4,039) –Vocational Rehabilitation Services (1,033) –Nursing Care Facilities (4,775)

49 Colorado  Arts, Entertainment & Recreation ( 13,679 ) – Independent Artists, Writers, and Performers (381) – Promoters of Performing Arts, Sports, and Similar Events (440) – Gambling Industries (1,775) – Other Amusement and Recreation Industries (9,275) – Museums, Historical Sites, and Similar Institution (552) – Amusement Parks and Arcades (537) – Spectator Sports (480) Detailed industries with faster than average employment growth greater than 2.3% per year

50 Colorado  Transportation & Warehousing (21,078) –Support Activities for Road Transportation (784) –Nonscheduled Air Transportation (595) –Local Messengers and Local Delivery (586) –Freight Transportation Arrangement (847) –Warehousing and Storage (4,146) –Scheduled Air Transportation (5,145) –Urban Transit Systems (225) –Specialized Freight Trucking (2,605) –Interurban and Rural Bus Transportation (137) Detailed industries with faster than average employment growth greater than 2.3% per year

51  Administrative, Support, Waste Management & Remediation Services 35,738 –Services to Buildings and Dwellings 15,877 –Investigation and Security Services 4,089 –Business Support Services 5,625 –Waste Collection 866 –Other Support Services 1,735  Educational Services 55,912 Colorado Detailed industries with faster than average employment growth greater than 2.3% per year

52 Employment Outlook: Projections Process  Labor force  Economic growth  Industry employment  Occupational employment

53 There are 22 major occupation groups  Of these, 14 are projected to grow faster than average. Together, they: –Accounted for 45% of employment in 2002 –And are projected to account for 65% of employment change thru 2012 National

54 Major occupational groups projected to grow faster than average (14.8%) Percent change, projected thru 2012 Source: Bureau of Labor Statistics

55 Major occupational groups projected to grow faster than average (14.8%) Percent change, projected thru 2012 Source: Bureau of Labor Statistics

56 Major occupational groups projected to grow slower than average (14.8%) Percent change, projected thru 2012 Source: Bureau of Labor Statistics

57 11 major occupations are projected to have a net employment increase of more than 1 million Source: Bureau of Labor Statistics Thousands of jobs, projected thru 2012 Percent change projected to be greater than average (14.8%) Percent change projected to be less than average

58 Job openings from replacement needs exceed those from employment growth Source: Bureau of Labor Statistics Millions of jobs, projected thru

59 Six of the ten fastest growing detailed occupations are health related, three are computer related Percent change, projected thru 2012 Medical assistants Network systems and data communications analysts Social and human service assistants Home health aides Medical records and health information technicians Physical therapist aides Computer software engineers, applications Computer software engineers, systems software Physical therapist assistants 59 Physicians assistants Source: Bureau of Labor Statistics

60 Top ten occupations generally requiring a bachelor’s degree or higher that are projected to grow faster than average, by earnings 2002 average annual earnings Physicians and surgeons Chief executives Podiatrists Lawyers Optometrists Computer/information system mgrs Marketing managers Health diagnosing and treating Sales managers Airline pilots, copilots, and flight engineers Source: Bureau of Labor Statistics

61 Top ten occupations generally requiring an associate degree that are projected to grow faster than average, by earnings 2002 average annual earnings Radiation therapists All other computer specialists Nuclear medicine technologists Registered nurses Diagnostic medical sonographers Forensic science technicians Computer support specialists Respiratory therapists Paralegal and legal assistants Dental hygienists Source: Bureau of Labor Statistics

62 Top ten occupations generally requiring long-term on-the-job training that are projected to grow faster than average, by earnings 2002 average annual earnings Elevator installers and repairers Flight attendants Transit and railroad police Electricians Fine artists (painters, sculptors, illustrators) Police and sheriff patrol officers All other media and communication workers Actors Plumbers, pipefitters and steamfitters Musicians and singers Source: Bureau of Labor Statistics

63 Top ten occupations generally requiring moderate- term on-the-job training that are projected to grow faster than average, by earnings 2002 average annual earnings Source: Bureau of Labor Statistics Sales reps, wholesale and manufacturing, technical and scientific Sales reps, wholesale and mfg, non technical and scientific Tapers All other communication equipment workers Sheet metal workers All other mechanics, installers and repairers Drywall and ceiling tile installers Painters, transportation equipment Hazardous materials removal workers All other sales and related $63,4600

64 Colorado computer and mathematical occupations will continue to grow at the highest rate

65 Colorado most job losses

66 In Colorado expect a slight increase in the proportion of jobs requiring Bachelor's degrees or higher 896 thousand jobs 683 thousand jobs 1,937 thousand jobs 1,614 thousand jobs

67 In Colorado, about 30% of job growth will be from positions requiring a post-secondary education

68 Most job openings: Bachelor’s degree or higher

69 Web sites Colorado Labor Market Information Occupational Outlook Handbook Career Guide to Industries Occupational Outlook Quarterly

70 For More Information:


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