Four Labor Market Trends and Strategies
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PowerPoint slides for presentation to a group of Rochester, NY area human resources professionals, 1/16/2014.
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Four Labor Market Trends and Strategies
- 3. Let’s look at four labor market trends that suggest some key strategies you might consider 1. Large numbers of long-term unemployed and parttime workers 2. Seasonal layoff patterns 3. Increasing population diversity 4. Changing employment patterns in occupations and industries
- 4. 12,000,000 10,000,000 8,000,000 6,000,000 4,000,000 2,000,000 0 Total Unemployed Long-Term Unemployed Part-Time Workers Who Want Full-Time Work
- 5. • From July 2012 thru June 2013 RochesterWorks! served 30,418 job seeker customers. • 59% of them were Dislocated Workers.
- 6. Why hire them? • Number of Discouraged Workers is declining • Part-time workers want to work. • Both groups likely have the “soft skills” you need • There are $$ available to help cover on-the-job training costs
- 8. Strategies • Hire new employees from December thru February • If you typically lay off during this timeframe, could you use the time to strategically retain and train your most valuable employees?
- 9. 15.8 Million US Workers, aged 55 and over 79,000 Monroe County workers, aged 55 and over
- 11. Groups to strategically recruit • • • • • Younger workers Older workers Women Racial and ethnic minorities Individuals with disabilities and veterans
- 12. Occupations With Greatest Decline in Finger Lakes Region Job Title SOC Code Decline, 2010– 2020 Replacement Needs, 2010–2020 Postal service mail sorters, processors, and processing machine operators 43-5053 -330 0 Sewing Machine Operators 51-6031 -290 0 Word processors and typists 43-9022 -220 100 Switchboard operators, including answering service 43-2011 -170 100 Postal service clerks 43-5051 -120 100 Pressers, textile, garment, and related materials 51-6021 -80 0 Computer operators 43-9011 -70 0
- 13. NYS Job Bank, November 2013, Finger Lakes Region SOC CODE OCCUPATIONAL CATEGORY APPLICANTS OPENINGS RATIO OF APPLICANTS TO OPENINGS 47206100 Construction Laborers 351 2 176:1 41909900 Sales and Related Workers, All Other 143 1 143:1 37201900 Building Cleaning Workers, All Other 111 1 111:1 43919900 Office and Administrative Support Workers, All Other 408 5 82:1 25203100 Secondary School Teachers, Except Special and Vocational Education 78 1 78:1 51403400 Lathe and Turning Machine Tool Setters, Operators, and Tenders, Metal and Plastic 66 1 66:1 35304100 Food Servers, Nonrestaurant 64 1 64:1 17302900 Engineering Technicians, Except Drafters, All Other 117 2 59:1 35101100 Chefs and Head Cooks 59 1 59:1 37301100 Landscaping and Groundskeeping Workers 233 5 47:1 35909900 Food Preparation and Serving Related Workers, All Other 133 0 No Openings 51209200 Team Assemblers 110 0 No Openings 43407100 File Clerks 96 0 No Openings 39501200 Hairdressers, Hairstylists, and Cosmetologists 68 0 No Openings 25202100 Elementary School Teachers, Except Special Education 66 0 No Openings 13208200 Tax Preparers 61 0 No Openings 21101900 Counselors, All Other 59 0 No Openings 39909900 Personal Care and Service Workers, All Other 51 0 No Openings 13209900 Financial Specialists, All Other 48 0 No Openings 35201100 Cooks, Fast Food 48 0 No Openings 35302200 Counter Attendants, Cafeteria, Food Concession, and Coffee Shop 46 0 No Openings 43503200 Dispatchers, Except Police, Fire, and Ambulance 43 0 No Openings 51301100 Bakers 40 0 No Openings
- 14. Separations for any reason in the Rochester Metro, 4th Quarter of 2012 Rochester MSA, Quar ter Construction Separations Manufacturing separations Q4 2012 5,478 7,433 Trade, Transp, and Utilities 12,509 Information separations 1,799 Financial separations 1,647 Prof and Bus Svcs separations 16,833 Education and Health Services 14,818
- 15. 1. Large numbers of long-term unemployed and part-time workers 2. Seasonal layoff patterns 3. Increasing population diversity 4. Changing employment patterns in occupations and industries
- 16. Find me on LinkedIn at www.linkedin.com/in/leekoslow/
Editor's Notes
- Ruby developers ASAP—six months experience—looking for well over a year
- Layoffs follow predictable, seasonal cycles. Involuntary separations tend to peak in December and January each year. In contrast, hiring tends to drop to its lowest level in the November–February period.
- You will have the largest pool of available, experience workers and the least competition for them.
- About 1/5 of MC workforce. The Labor Force Participation Rate experienced a sharp drop from 66% before the Great Recession to 63.7% in 2012 and is not projected to rebound any time soon. That means fewer working-age candidates for businesses to hire.
- 109,000 young men and women, 20-29, in MC. 42,000 in Rochester, 67,000 outside. According to a recent report from the OECD, 1/3 of low-skilled individuals in the US are aged less than 35. Born early 1980s (1982)-Early 2000s (2004)
- Younger—you’ll need them to replace the Baby Boomers. Older—only age demographic whose LFP rate has increased in the last decade. Part time or consulting? Young women are more likely to have higher basic skills levels then their male counterparts (at a rate of about 2 to 1). Also non-traditional push. Racial/ethnic minorities—particularly black/African-American women (59.9%) and Hispanic or Latino men (77.8%).
- So you cannot find qualified candidates who have experience in both the occupation and industry for which you are hiring. Could you find someone with experience in one or the other? Or perhaps a qualified candidate has experience in a related occupation or industry with the right set of transferable skills. Could fill recruiting needs in accounting and secretarial.
- These industries are not necessarily in decline, but the workers may be available.