Editor’s note: This post is from Melinda M. Mulawka, Deputy Director of the New York City Workforce Investment Board. Throughout her tenure with the WIB, Melinda has been responsible for the development and implementation of high priority initiatives such as the NYC Labor Market Information Service and  www.CareerLinkNYC.com. In addition, she has spearheaded efforts to recruit dynamic business members to the Board and enhance communication to the WIB’s many stakeholders, as well as served as the Acting Executive Director throughout 2009.

As the fate of our economy is more uncertain than ever, it is essential that as workforce providers we are able to provide timely and easily digestible labor market information to career advisors and jobseekers, and business developers and employers. Lucky for us there are a multitude of resources available at our fingertips – the trick is making them work for you.

Labor Market Information (LMI) is a useful tool that allows you, as a workforce professional, to speak knowledgeably with jobseekers and employers about sector or industry group and what is happening in your local labor market.  LMI can be used for a range of purposes from identifying the top employers in your area and locating their location for business development purposes, to understanding job trends and occupational requirements to assist jobseekers make skills training decisions or compare their skills will employer needs. 

NYC’s Approach to Labor Market Data:

To help us navigate and synthesize the available sources, New York City created the NYC Labor Market Information Service (NYCLMIS), a joint endeavor of the NYC Workforce Investment Board (WIB) and the Graduate Center of the City University of New York.  The NYCLMIS provides labor market analysis to inform practitioners and policy makers of critical issues affecting NYC’s labor market and economy. 

More specifically, the NYCLMIS has assisted in helping practitioners in the City learn about and understand the variety of resources available to help get people back to work.  Not every local area has a Labor Market Information Service – so here is compilation of some “need to know” information and what it can be used for:

Labor Market terms and definitions:        

• Speak about the sector knowledgably to jobseekers and employers seeking services.  Allows you to be an expert! (Key Terms and Definitions in Labor Market Analysis)

Subsector intelligence:  

• Identify top employers and locate employer sites. Knowing who your key employers are, as well as understanding where they are located will assist you in doing business development.  You can also use this information to understand if employers are clustering in a certain region, and make determinations about supply chains. (Helpful Tools: On the Map: Version 3; How To Find and Download Business Lists)
• Current workforce facts.  Understanding who is working now, can help you assess the key employment demographics, as well as address gaps between the current workforce and employer demand. (Helpful Tools: Community Economic Development Hot Reports)

Jobs:   

• An understanding of how many jobs there are and where they are located?  This information will allow you to identify trends – what sectors and occupations are growing; which are declining? (Helpful Tools: Industry Focus ; Quarterly Workforce Indicators; On the Map: Version 3)

Occupations:

• Identifies promising occupations for jobseekers.   Using tools like O*Net will allow you to gauge jobseekers skills, experience and qualifications against employer needs.  You should also use qualitative information from employers in your area to refine the skills, experience and qualifications to meet your local labor market. (Helpful Tools: O*Net and employer interviews done locally)

 Wages:

• Identifies entry-, mid- and high-level wages.  This information can be used in a number of ways such as counseling jobseekers entering a new profession or assisting employers in competitively advancing incumbent workers. (BLS Employment Data Sets and visit your State Labor Market Data resources)

Other Easy to Use Resources:

Census Bureau

Community Economic Development Hot Reports

Quarterly Workforce Indicators

On the Map: Version 3

Industry Focus

U.S. Bureau of Labor Statistics

Employment Data Sets

Other Resources:

O*Net

While the reports produced by the NYC Labor Market Information Service are NYC specific, the “how to” guides for using labor market data tools is something anyone can use. Available on the web are:

• Key Terms and Definitions in Labor Market Analysis
• How To Find and Download Business Lists