Wisconsin and the Beloit Region Demographic and Labor Market - PDF document

12/12/2018 Wisconsin and the Beloit Region Demographic and Labor Market Overview Dennis Winters & Tom Pethan Department of Workforce Development GBEDC Annual Investors Meeting December 12th, 2018 Hotel Goodwin, Beloit, WI Projected Population Change 2015 - 2035 Source: WI Dept. of AdministrationDemographicServices Center and U.W.-Madison Applied Population Lab 1

12/12/2018 Projected Population Change 2015 – 2025 People Aged 65 & Older LFPR Declines as Workers Age Wisconsin LFPR by Age Cohort Source: 2016 American Community Survey (ACS), US Census; sourced from IPUMS.org 2

12/12/2018 Wisconsin’s Workforce Growth Wisconsin Population and Labor Force 7,000 POPULATION 6,000 CIVILIAN LABOR FORCE 5,000 ( x 1000 ) 4,000 3,000 2,000 1,000 1960 1970 1980 1990 2000 2010 2020 2030 Source: Bureau of Labor Statistics, OEA How Employment is Tracking 3

12/12/2018 Job Openings There are currently 34,711 resumes and 100,429 jobs on the Job Center of Wisconsin site (11/20/18). https://jobcenterofwisconsin.com/ County of Residence for Beloit Jobs (Top 10) Commuting County Name Number of People who Work in Beloit (City or Town) and Live in Specified County Percentage of Beloit Workers Source: OnTheMap, LEHD Census, 2015; Numbers show Primary Jobs 4

12/12/2018 Job Sectors Total Net Job Growth 2010-2017 Rock, WI + Winnebago, IL = 10,451 (5.9%) Wisconsin = 222,388 (8.6%) Source: LEHD, Quarterly Workforce Indicators (QWI), 2017 Annual Demographics Total Projected Population Growth 2020-2030 Rock, WI + Winnebago, IL = 6.5% Wisconsin = 6.2% Source: WI Department of Administration (DOA) for Rock and Wisconsin; IL Department of Commence and Economic Opportunity (DCEO) for Winnebago (IL) 5

12/12/2018 Demographics Source: US Census, 2017 1-YR American Community Survey (ACS); Unemployment from BLS, LAUS Program Long-term Industry Employment Projections, 2016-2026 Industry Sector by Percent Change; SW WDA Source: DWD, Office of Economic Advisors, November 2018 6

12/12/2018 Long-term Occupational Employment Projections, 2016-2026 Gaining the Most New Jobs; SW WDA Source: DWD, Office of Economic Advisors, November 2018 Long-term Occupational Employment Projections, 2016-2026 Fastest-Growing by Percent Change; SW WDA Source: DWD, Office of Economic Advisors, November 2018 *With at least 500 employment for 2016 7

12/12/2018 Long-term Occupational Employment Projections, 2016-2026 Most Job Openings; SW WDA Source: DWD, Office of Economic Advisors, November 2018 WisConomy Connect with Regional Economists Find Labor Market Information Jobs Wages Industry and Occupation Projections 8

12/12/2018 Questions? Dennis Winters Chief Economist 608-267-3262 Dennis.Winters@dwd.wi.gov http://dwd.wisconsin.gov 9