Hart Nelson Associate Vice Chancellor for Workforce Solutions St. - PDF document

1 Hart Nelson Associate Vice Chancellor for Workforce Solutions St. Louis Community College stlcc.edu/STLworkforce 2

2 Research Overview Survey Background 2018 St. Louis Survey Map General General Business Business 2015 2017 2014 2016 2018 Health Care, Health Care, STEM Finance, Manufacturing, & Technology & Transportation and Logistics

3 Why These Target Sectors? Large St. Louis Employers Health Care: 14% 165,000 Technology: 140,000 Financial: 70,000 21.2K Jobs Long-Term Job Growth 8% Growing faster than overall jobs, especially Health Care 10.2K Jobs 4% Higher-Skill Issues STL Good Pay & Economic Benefits Metro 2.7K Jobs Tight Labor Supply Issues Finance Technology Health Care 2008Q1 to 2017Q1, Quarterly Workforce Indicators, U.S. Census Today’s Economy Recent Labor Trends and Employment Barriers Finding the Right People What jobs and skills are in-demand Job Applicants & Skilling Up Applicant shortcomings & company measures College Response How STLCC is using this data

4 National Job Openings Rate Surpasses Unemployment Rate January 2008 – April 2018. U.S. Bureau of Labor Statistics 7 Midwest Job Openings Outpacing Hires 1,800,000 Openings Midwest Job Openings vs. Job Hires 1,600,000 Seasonally adjusted figures, 3-Month Moving Average Gap grows 1,400,000 since 2016 1,200,000 Hires 1,000,000 800,000 600,000 400,000 200,000 RECESSION 0 Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan 2007 2007 2008 2008 2009 2009 2010 2010 2011 2011 2012 2012 2013 2013 2014 2014 2015 2015 2016 2016 2017 2017 2018 12 Midwest states: Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, and Wisconsin. BLS JOLTS survey 8 January 2007 – May 2018. U.S. Bureau of Labor Statistics, JOLTS

5 St. Louis Economy Large, Diverse Economy 22nd Largest Metro Economy ($160B GDP), slightly smaller than Charlotte Advantages: Cost of Living + Higher Education + Central Location Largest Job Sectors: Health Care, Wholesale/Retail, Leisure/Hospitality Tight Labor Market Unemployment Rate: 3.4% In 2017: 22% are Very Slow Population Growth 55+ (17% in 2007) Aging Workforce 9 Sources: BEA, BLS, Census Past Year St. Louis Employment Levels Target Sectors have More Job Movement in Positive & Negative directions 10

6 Future St. Louis Employment Plans More Dynamic : Greater Percent Plan on Increasing and Decreasing Employment 11 Potential Barriers to Expanding Employment 4 th Year Top Concern: Shortage of Knowledge/Skill Workers Do Certification/Licensing reduce top concern but boost Available Training response? 12

7 Importance of Barriers to Expanding Employment Technology Finance Health Care 13 Today’s Economy Summary Continuing tight labor market & slow population growth an economic concern Shortage of Skill Workers : 4th Year as Top Barrier Good Outlook: 48% of Targets plan expansion vs. 42% in 2017 but more volatile Finance 39% Plan to Expand Technology Health Care 13% Plan to Contract 54% Plan to Expand 50% Plan to Expand 11% Plan to Contract 11% Plan to Contract

8 Today’s Economy Recent Labor Trends and Employment Barriers Finding the Right People What jobs and skills are in-demand Job Applicants & Skilling Up Applicant shortcomings & company measures College Response How STLCC is using this data Staff Employment by General Functional Areas Targets More Concentrated in Analytical Fields 16

9 Technology Software Development Cybersecurity Web Development Health Care Diagnostic Services Patient Care Therapeutic Care Finance Financial Advisement Commercial/Residential Lending 17 St. Louis Top Basic & Specialized Skills from Job Ads 18 Burning Glass Job Ads for top job ads over year ending May 2018.

1 0 St. Louis Top Jobs Ads in Functional Areas Technology Finance & Business Management Health Care Software Developers Accountants Medical Service Managers Computer System Analyst General Managers Registered Nurses Computer User Support Management Analyst Nursing Assistants Accounting Clerks Personal Care Aides Top Certificates IT Infrastructure Library (ITIL) Cert. Series 7 Financial Securities Registered Nurse CompTIA Security+ Insurance License Advanced Cardiac Life Support First Certified Information Systems Security Certified Public Accountant (CPA) Aid CPR AED 19 Burning Glass Job Ads for top job ads over year ending May 2018. 45 Percent of Firms Experiencing Skilled Applicant Shortage versus 31% of 2017 Businesses 20

1 1 Skill Shortages are in Higher Skilled Jobs for Targeted Sectors 21 …But Skill Level Shortages Differ Greatly by Targeted Sectors 22

1 2 Technology Effective Rate Shortages in Functional Areas 23 Finance Effective Rate Shortages in Functional Areas 24

1 3 Health Care Effective Rate Shortages in Functional Areas 25 Finding the Right People Summary Target Sectors more analytical but share common business functions Communication , Teamwork , and Customer Service are top skills Jobs require more Certifications and Licensing in Target Sectors Finance • 38% Skilled Applicant Shortage Technology Health Care • Lower Skills Needed: 68% • 61% Skilled Applicant Shortage • 35% Skilled Applicant Shortage • Customer Serv. & Lending • High Skills Needed: 73% • Across All Skill Levels • Web Dev. & Cyber Security • Customer Serv. & Therapeutic

1 4 Today’s Economy Recent Labor Trends and Employment Barriers Finding the Right People What jobs and skills are in-demand Job Applicants & Skilling Up Applicant shortcomings & company measures College Response How STLCC is using this data Shortcomings of Job Applicants • Ranking shifts some • Less Shortcomings Overall • Specific Skill Differences 28

1 5 Health Methods to Address Need for New or Increased Skills Care 57% Health Care 75% 29 Measures Taken to Address Applicant Skill Shortages Interesting distinctions for Target Sectors Last Year’s All Business Survey 81% 40% 20% 19% 4% 20% 42% of Technology companies take no action 30

1 6 Entry-Level Opportunities Exist in all Target Sectors Entry-Level Jobs Sales Representatives Customer Service Reps Admin. Assistants Office Clerks Personal Care Aides 31 Job Applicants & Skilling Up Same soft skill but less hard skill shortcomings: certifications/license impact ? Less overall shortcomings reported: higher skilled applicants? On-the-job training still top for addressing skills but lower level overall Finance • OJT top method to add skills Technology Health Care • Must hire/train or hire outside STL • Flex. schedule for continuing educ. • 77% have Short-Term Train. Jobs • OJT top method to add skills • Must hire/train or hire contractors • Hire outside U.S. or take no action • 84% have Short-Term Train. Jobs • 70% have Short-Term Train. Jobs

1 7 Today’s Economy Recent Labor Trends and Employment Barriers Finding the Right People What jobs and skills are in-demand Job Applicants & Skilling Up Applicant shortcomings & company measures College Response How STLCC is using this data Biotech program at BRDG Park

1 8 LaunchCode class at Corporate College Women in Aerospace Manufacturing #WomenBuildAero

1 9 Center for Nursing and Health Sciences Download the full report stlcc.edu/STLworkforce 38