Missouri State of the Workforce report

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Presentation transcript:

Missouri State of the Workforce report Presented by Sonal Haté Missouri Economic Research and Information Center (MERIC) Department of Economic Development

9/16/2018 State of the Workforce

Overview Economic Indicators Workforce Supply Workforce in training Workforce demand Future Challenges 9/16/2018 State of the Workforce

Economic Indicators

Shifting Employment Trends Source: U.S. Department of Labor, Bureau of Labor Statistics 9/16/2018 State of the Workforce

New Economy Indicators 9/16/2018 State of the Workforce

OTHER INDICATORS Gross State Product -5th across the Midwest states, 2.5% increase between 2010 and 2009 Exports have increased by 14% between 2010 and 2011 Missouri ranks 16th in the 2011 State Business Tax Climate Composite Index Missouri has the 13th lowest cost of living in the nation 9/16/2018 State of the Workforce

Workforce Supply

Population St. Louis County has the largest population in the state (16.7%) 25-59 years (46.7%) Source: MO Office of Administration –Budget &Planning-Population Projections 9/16/2018 State of the Workforce

Labor Force Delayed retirement Aging workforce Source: Bureau of Labor Statistics, Geographic Profile of Employment Delayed retirement Aging workforce Decline in crucial residential labor force 9/16/2018 State of the Workforce

Income Level per Capita ■ 2000-2010 U.S. -$40,584 Source: U.S. Census Bureau, Small Area Estimates 9/16/2018 State of the Workforce

Poverty Level ■ Under Age 18 MO – 20.7% U.S. – 20% Source: American Community Survey—2009 9/16/2018 State of the Workforce

Workforce in Training

Educational Preparedness Missouri scored a C+ statewide in K-12 education system ranking More than 30% of 18-24 year olds have only a high school diploma 9/16/2018 State of the Workforce

College Readiness Percent of Students Meeting ACT College Benchmark Scores-Class of 2011 Source: ACT Profile Report State: Missouri, Graduating Class of 2011 9/16/2018 State of the Workforce

Enrollment Trends in Missouri’s Higher Education Missouri has 132 Title IV degree granting institutions 9/16/2018 State of the Workforce

STEM-Related Degrees Graduates with Degrees for 2009 9/16/2018 State of the Workforce

Workforce Demand

Occupational Projections Jobs Created Due to Growth by 2018 50% Source: MERIC, 2008-2018 Missouri Long-term Occupational Projections 9/16/2018 State of the Workforce

Top Ten Fastest Growing Occupations & Industries This is a combination of the previous two slides. I cut the list to 10 because that’s all we showed for industries. 9/16/2018 State of the Workforce

Employment Openings By Educational Level 9/16/2018 State of the Workforce

Target Industry Clusters Advanced Manufacturing Energy Solutions Biosciences Health Care Sciences and Services Information Technology Financial and Professional Services Transportation and Logistics 9/16/2018 State of the Workforce

Improving Together Future Challenges Any Questions?? Strengthening primary and secondary education system Increased collaboration between higher education institutions, workforce training providers, economic developers and businesses Continue efforts to develop affordable, flexible and credential-based training for adult workers and businesses Improving Together Any Questions??