May is Graduation Month

Employment is brighter for some graduating students than for others, depending on the degree earned. Registered nurses (RNs) top the list for most in demand in the nation over the next decade with an expected 1,110,841 openings. About 60% of the job openings are expected because RNs are either retiring or changing occupations (called replacement demand in the table). A bachelor’s degree is typically required to be an RN and it pays an entry wage of around $48,500. According to the latest data (fourth quarter of 2015), there are 2.9 million employed RNs in the nation. The annual average wage for all RNs is $69,800.

Other occupations in high demand over the next decade include general and operations managers, accountants and auditors, and computer systems analysts.

Top 10 Occupations in the Nation with Most Openings that Typically Require a Bachelor's Degree, 2015-2025
CurrentForecast
Four Quarters Ending with 2015q4 Over the Next 10 Years
OccupationEmployment Avg. Annual Wages(1) Total Replacement Demand Total Growth Demand Total Openings Entry-Level Wages(1)
Registered Nurses 2,855,420 $69,800 674,656 436,185 1,110,841 $48,500
General and Operations Managers 2,153,362 $117,200 578,853 160,090 738,943 $51,900
Managers, All Other 956,533 $110,200 581,923 69,310 651,233 $61,100
Accountants and Auditors 1,329,500 $73,700 395,893 157,410 553,303 $43,900
Elementary School Teachers, Except Special Education 1,304,861 $56,800 278,301 68,513 346,814 $38,200
Software Developers, Applications 761,466 $99,500 128,545 156,726 285,271 $61,700
Secondary School Teachers, Except Special and Career/Technical Education 915,675 $59,300 218,530 48,529 267,059 $39,700
Management Analysts 737,144 $90,900 136,669 108,926 245,595 $49,800
Computer Systems Analysts 572,220 $87,300 82,653 125,941 208,594 $54,900
Financial Managers 548,319 $130,200 141,656 39,332 180,988 $68,600
1. Occupation wages are as of 2014.
Source: JobsEQ

Preschool teachers top the list of in-demand occupations for jobs that typically require an associate’s degree. Openings in the nation are expected to total 151,181 over the next decade with entry-level wages of $20,000.

Entry-level wages for some jobs that require an associate’s degree pay better than those requiring a bachelor’s degree.  For example, the entry-level wage for the average dental hygienist in the nation is $52,600 and the education required is an associate’s degree compared to a registered nurse requiring a bachelor’s degree who has an entry wage of $48,500.

When determining a major for post-secondary degrees, the forecasted number of openings and entry-level wages is important to both the employer and the new hires coming out of the education pipeline.

Top 10 Occupations in the Nation with Most Openings that Typically Require an Associate's Degree, 2015-2025
CurrentForecast
Four Quarters Ending with 2015q4Over the Next 10 Years
OccupationEmployment Avg. Annual Wages(1) Total Replace-ment Demand Total Growth Demand Total Openings Entry-Level Wages(1)
Preschool Teachers, Except Special Education 427,081 $32,000 121,808 29,373 151,181 $20,000
Paralegals and Legal Assistants 268,735 $51,800 58,260 21,671 79,931 $32,500
Web Developers 154,910 $68,700 28,230 44,016 72,246 $37,500
Dental Hygienists 202,937 $72,000 32,322 37,769 70,091 $52,600
Medical and Clinical Laboratory Technicians 169,257 $40,800 38,609 29,661 68,270 $27,200
Physical Therapist Assistants 81,908 $54,300 26,249 33,001 59,250 $35,800
Radiologic Technologists 205,569 $57,500 36,532 17,181 53,713 $39,900
Respiratory Therapists 127,245 $58,500 29,213 14,499 43,712 $43,300
Life, Physical, and Social Science Technicians, All Other 69,799 $47,900 35,992 5,391 41,383 $28,300
Computer Network Support Specialists 180,776 $66,100 24,555 15,431 39,986 $39,000
1. Occupation wages are as of 2014.
Source: JobsEQ

Creating Strategic Plans for Workforce Development

Identifying occupations that are needed by businesses in a region is a precursor to the creation of a workforce development strategic plan. Moreover, identifying occupations that are currently in demand and those that will be needed over the next decade enables institutions in a region to better align their resources in workforce and education to meet the needs of businesses. Knowing which occupations are now in-demand and expected to remain in-demand over the next decade also empowers residents or communities to obtain the skills to compete for those jobs and to obtain living wages.

Click here to read Virginia’s Combined State Plan for WIOA (Chmura Economics & Analytics supported the development of the plan):

http://www.elevatevirginia.org/wp-content/uploads/2014/04/VBWD-Strategic-Plan_final.pdf

WIOA: Data-driven Directions

Now that the states' WIOA plans are completed, local Workforce Development Areas' key staff are in the throes of developing their local strategic plans. As we heard while attending the NAWB Forum 2016 conference, local areas need actionable labor market data and information. To this end, Chmura is working with several WDAs to provide labor data through our technology platform, JobsEQ. With JobsEQ, you have the data you need, when you need it. Investment outcomes are more manageable and predictable with reliable labor force data.

There are 19,703,061 residents in the nation that are living with some sort of disability according to the latest data available. This is about 10% of the population. An example of how this impacts local regions can be seen in the Southern Ohio nonmetropolitan area, which has 17% of its population living with disabilities compared to 11.6% for the State of Ohio.

Southern Ohio Non-Metro Area, Demographics: Disabled Age 18-64Southern Ohio Non-Metro Area, Demographics: Disabled Age 18-64

Winning the Next Prospect With Labor Data

How do you make big decisions? If you’re involved in a site selection, you know that reliable labor data are critical to the process. Chmura has been helping communities for twenty years and we’ve seen fantastic results! For insights into why we do what we do, please view the attached brief video!

Thoughts from the NAWB Forum 2013 - Connect. Discover. Elevate

The Chmura team recently attended the 2013 National Association of Workforce Boards Forum held in Washington DC.  The event was well-attended by both public and private sector organizations including workforce development agencies, their board leadership, key staff members and community partners such as economic developers, educators, businesses, and elected officials. This year’s big buzz was around businesses-critical and ever-changing need for talent. Workforce Investment Boards and others are talking, now more than ever, about their need to become more relevant to the business community.  To accomplish that, thought leaders are placing a lot of emphasis on the importance of quality, insightful labor market data to shape the strategic direction for WIBs.  Even more exciting was the conversation around the need to connect workforce planning with the larger regional goals of the communities. 

NAWB 2013

This year’s theme “Dialogue for Workforce Excellence” got to the heart of the matter and the need for workforce development agencies to innovate and deliver relevant programs to support the needs of business and industry.  One speaker built upon that by giving the audience a cautious reminder that “innovation has no value until a customer stands beside it.” The lunch speakers were characteristically amazing and included the inspirational Bill Strickland, President and CEO of Manchester Bidwell Corporation and the insightful Jim Clifton, Chairman and CEO of Gallup. Jim remarked that customers create jobs and not vice versa. 

We met hundreds of passionate professionals, learned a lot and relished the opportunity to share our own labor marketing information solution, JobsEQ. Thanks to those who stopped and chatted with Chris Chmura and Leslie Peterson at our booth. 

We hope you’ll take an opportunity to check out the NAWB Forum 2013 program site (post-conference material is available now) and leave you with the following ruminations.

  • Collaboration is no longer an option—it’s the new normal.
  • Leadership is critical and the only way to affect real change in systems.
  • Passion without planning is like nailing JELLO to a brick wall.
  • Technology and big data has the potential to transform the way WIBs operate and affect change in their communities. 

We’ve got an incredible opportunity to get this one right and we’re committed to contributing to the solution.