1. Greater Peninsula: 2016 State of the Workforce Update
September 22, 2016

2. Greater Peninsula Total Employment
Total employment grew by 2,562 over the five-year period between 2010:Q4 and 2015:Q4
1.1% vs 6.3% at state level
Data Source: Bureau of Labor Statistics

3. Total Employment Growth by Locality: 2010:Q4 to 2015:Q4
Data Source: Virginia Employment Commission

4. Total Employment Growth by Locality: 2014:Q4 to 2015:Q4
Data Source: Virginia Employment Commission

5. Greater Peninsula Employment by Major Industry Sector: 2015:Q4
Healthcare 13.8%
Manufacturing 13.3% (vs 6.4%)
Retail Trade 12.7% (vs.11.6%)
Accommodation and Food Services 11.1% (vs. 8.9%)
Other differences
Professional and Technical Services 5.7% (vs. 10.9%)
Arts. Entertainment, and Recreation 3.5% (vs. 1.7%)
Finance and Insurance 1.5% (vs 3.5%)
Data Source: Virginia Employment Commission

6. Greater Peninsula Wages: 2015:Q4
Mgmt. of Companies and Enterprises $2,371
Professional and Technical Services $1,427
Manufacturing $1,386 (vs $1,168)
Other differences
Retail Trade $491 (3rd largest)
Accommodation and Food Services $342 (4th largest)
Data Source: Virginia Employment Commission

7. Total Employment Growth by Key Sector: 2010:Q4 to 2015:Q4
Important to recall that Manufacturing suffered a 1,556 loss in employment in the last year
Data Source: Virginia Employment Commission

8. Total Employment Growth by Key Sector: 2014:Q4 to 2015:Q4
Important to recall that Manufacturing suffered a 1,556 loss in employment in the last year
Data Source: Virginia Employment Commission

9. Total Employment Growth by Key Sector: 2010:Q4 to 2015:Q4
Data Source: Virginia Employment Commission

10. Total Employment Growth by Key Sector: 2014:Q4 to 2015:Q4
Data Source: Virginia Employment Commission

11. Industry Performance Metrics
Employment Location Quotient (LQ Employment): Measures the degree to which a region has an employment concentration within a specific industry relative to the statewide norm.
Establishment Location Quotient (LQ Establishments): Measures the degree to which a region concentrates within a specific industry based on number of local establishments relative to the statewide norm.
Relative Earnings Ratio (REratio): Measures average pay within the industry relative to average pay within the region.
Growth in Industry Pay Relative to Region Pay (RREratio): Measures growth in industry pay between 2006 and relative to growth in region pay between 2006 and 2011.
Change in Importance of Industry ( Indust): Measures change in the proportion of regional employment accounted for by the industry between 2006 and 2011.
Ten metrics

12. Industry Performance Metrics
Proportion of Industry Output Exported (% Output Exp): Measures the proportion of an industry’s output that is exported out of the region.
Industry Exports as a Proportion of Regional Exports (% Reg Exp): Measures the industry’s exports as a proportion of total regional exports.
Type 1 Multiplier Ratio (Multiplier): Measure the industry’s Type 1 Multiplier relative to the regional average, which in this case is Type 1 Multipliers measure the economic ripple, or Keynesian multiplier, effects that an industry has on the regional economy.
Employment Growth Ratio ( Nat. Emp): The industry’s nationally projected annual employment growth between and 2020 as a proportion of projected total annual employment growth.

13. Industry Performance Metrics
Output Growth Ratio ( Nat. Output): The industry’s nationally projected annual output growth between 2010 and 2020 as a proportion of projected total annual output growth.

14. Aggregate Industry Performance: Major Sectors
Important to recall that Manufacturing suffered a 1,556 loss in employment in the last year

15. Aggregate Industry Performance: Key Sector Drill Down
Healthcare 13.8%
Manufacturing 13.3% (vs 6.4%)
Retail Trade 12.7% (vs.11.6%)
Accommodation and Food Services 11.1% (vs. 8.9%)
Other differences
Professional and Technical Services 5.7% (vs. 10.9%)
Arts. Entertainment, and Recreation 3.5% (vs. 1.7%)
Finance and Insurance 1.5% (vs 3.5%)

16. Training Gaps
Compares the occupation-driven demand for graduates in the Greater Peninsula with the pipeline of graduates from regional postsecondary education institutions to identify areas of potential unmet need.
Demand for graduates is based on VEC’s current to 2022 occupational employment projection for the Greater Peninsula.
Supply of graduates is based on completions data from the National Center for Education Statistics’ IPEDS Data Center for all colleges and universities within the Greater Peninsula and Norfolk.
Ten metrics

17. Training Gaps Occupation Avg. Annual Open. Annual Wage Degree Req.
% of Need Met
Bill and Account Collectors 7
$32,327 HS 0%
Cooks, Institution and Cafeteria 27
$24,441
<HS
Environmental Engineers 8
$81,342 MA
Executive Secretaries and Executive Administrative Assistants 12
$47,989
Some College
Loan Interviewers and Clerks 2
$30,240
Assoc
New Accounts Clerks 3
$34,471
Ten metrics

18. Training Gaps Occupation Avg. Annual Open. Annual Wage Degree Req.
% of Need Met
Secretaries and Administrative Assistants, Except Legal, Medical, and Executive 64
$31,050 HS 0%
Tellers 32
$27,646
Career/Technical Education Teachers, Secondary School 8
$57,470 BA 5%
Bookkeeping, Accounting, and Auditing Clerks 59
$34,262
21%
Payroll and Timekeeping Clerks 9
$39,044
Nursing Assistants
135
$23,323
22%
Ten metrics

19. Training Gaps Occupation Avg. Annual Open. Annual Wage Degree Req.
% of Need Met
Nurse Practitioners 11
$93,782 MA
27%
Correctional Officers and Jailers 22
$36,307 HS
30%
Human Resources Managers 3
$93,644 BA
32%
Training and Development Specialists
$57,120
Compensation, Benefits, and Job Analysis Specialists 5
$50,013
Teacher Assistants 75
$23,975
Some College
Ten metrics

20. Thank You Dr. A. Fletcher Mangum President 804-346-8446