1. 1 MHS 5340 Foundations of Career Development James P. Sampson, Jr. Florida State University Labor Market Concepts

2. 2 The Global Economy Result of information sharing and transportation of goods and people Includes manufacturing and services Almost every jobholder is a competitor in the global economy Every consumer of goods and services is part of the global economy

3. 3 The Global Economy Evolution from job security to employment security –Job security: Security from labor contract Responsibility of company –Employment security: Security from maintenance of skills Responsibility of employee

4. 4 The Global Economy Career management –Training and experience may be more important than salary –Negotiate training and experience to to maintain and develop skills –Stay skilled to stay employed –Learn what skills are important in the marketplace

5. 5 Changing Nature of Organizations Classic Modern Ladder Lattice

6. 6 Use of Labor Market Information Occupational decisions Education and training decisions Employment decisions Initial career decisions Ongoing career decisions More general information – more accurate More specific information – less accurate

7. 7 Labor Market Information LMI describes nature and dynamics of employment opportunities and the labor force Labor force - people who have or are looking for a job Supply and demand

8. 8 Labor Market Information Supply information –Employed people –Unemployed people –Education and training programs –New people moving into area –New or reentrants into labor force

9. 9 Labor Market Information Demand information –Filled jobs –Unfilled jobs –Industrial growth –Changing occupational patterns –Turnover rates

10. 10 Factors Influencing the Labor Market Government spending and policies Population characteristics Population shifts Technological innovations Consumer habits Natural disasters Enrollment trends

11. 11 Labor Market Information Sources Government agencies –Federal (Bureau of Labor Statistics) –State (Departments of Labor) Professional & trade associations Publishers of print, audio-visual and computer-based resources Futurist organizations

12. 12 Federal Government Info. Sources U.S. Department of Labor - Bureau of Labor Statistics –Occupational Outlook Handbook –Occupational Outlook Quarterly – Monthly Labor Review – O*NET

13. 13 State Government Info. Sources Florida Department of Labor and Employment Security – Labor Market Statistics Florida Industry and Occupational Employment Projections 1996-2006

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17. SOURCE: FLORIDA DEPARTMENT OF LABOR AND EMPLOYMENT SECURITY, DIVISION OF JOBS AND BENEFITS, BUREAU OF LABOR MARKET INFORMATION. EMPLOYMENT GROWTH BY INDUSTRY DIVISION FLORIDA, 1996 - 2006

18. SOURCE: FLORIDA DEPARTMENT OF LABOR AND EMPLOYMENT SECURITY, DIVISION OF JOBS AND BENEFITS, BUREAU OF LABOR MARKET INFORMATION. EMPLOYMENT GROWTH IN RETAIL TRADE FLORIDA, 1996 - 2006

19. SOURCE: FLORIDA DEPARTMENT OF LABOR AND EMPLOYMENT SECURITY, DIVISION OF JOBS AND BENEFITS, BUREAU OF LABOR MARKET INFORMATION. EMPLOYMENT GROWTH IN FINANCE, INSURANCE, AND REAL ESTATE FLORIDA, 1996 - 2006

20. SOURCE: FLORIDA DEPARTMENT OF LABOR AND EMPLOYMENT SECURITY, DIVISION OF JOBS AND BENEFITS, BUREAU OF LABOR MARKET INFORMATION. EMPLOYMENT GROWTH IN SERVICES FLORIDA, 1996 - 2006

21. SOURCE: FLORIDA DEPARTMENT OF LABOR AND EMPLOYMENT SECURITY, DIVISION OF JOBS AND BENEFITS, BUREAU OF LABOR MARKET INFORMATION. EMPLOYMENT GROWTH IN GOVERNMENT FLORIDA, 1996 - 2006

22. SOURCE: FLORIDA DEPARTMENT OF LABOR AND EMPLOYMENT SECURITY, DIVISION OF JOBS AND BENEFITS, BUREAU OF LABOR MARKET INFORMATION. EMPLOYMENT GROWTH RATES BY OCCUPATIONIONAL DIVISION FLORIDA, 1996 - 2006

23. THE FASTEST-GROWING OCCUPATIONS IN FLORIDA 1996-2006 SOURCE: FLORIDA DEPARTMENT OF LABOR AND EMPLOYMENT SECURITY, DIVISION OF JOBS AND BENEFITS, BUREAU OF LABOR MARKET INFORMATION.

24. OCCUPATIONS GAINING THE MOST NEW JOBS IN FLORIDA 1996-2006 SOURCE: FLORIDA DEPARTMENT OF LABOR AND EMPLOYMENT SECURITY, DIVISION OF JOBS AND BENEFITS, BUREAU OF LABOR MARKET INFORMATION.

25. 25 Labor Market Trends Big-growth occupations –Food service workers (10% increase) Fast-growth occupations –Robotics technicians (600% increase) Only 5,000 robotics workers in U.S, but 18,000 food workers needed

26. 26 Change in Hours Worked Work hours of white collar workers are increasing as white collar workers do the work of more people from downsizing Blue collar workers getting second jobs to maintain lifestyle

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28. 28 Other LMI Terms Structural unemployment – loss of employment due to fundamental changes in the economy and the labor market Dislocated worker - loss of job for other than personal reasons Occupationalism - thinking less of a person because of his or her job

29. 29 Increasing Employment Variability Increase in part-time employment & multiple part-time jobs –Downside is lack of benefits Increase in self employment and ownership of small businesses

30. 30 Increasing Employment Variability Increase in temporary employment across white and blue collar areas –Some temporary employers providing benefits –Workers only valuable to temporary agencies if they maintain their skills

31. 31 Unemployment & Underemployment Underemployment - working in a job that doesn’t require your level of education Higher education levels = –Lower amount of unemployment –Shorter period of unemployment

32. 32 Unemployment & Underemployment Underemployment depends somewhat on occupational field –Science degrees with specific training have lower underemployment –General degrees with less specific training have higher underemployment

33. 33 Unemployment & Underemployment More education = more pay More training = more pay Downward mobility - taking a lower level job to maintain employment All things being equal, less educated and skilled workers will move down more quickly Importance of educational opportunity

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41. For Additional Information www.career.fsu.edu/techcenter/ Thank You

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