Ms. Lorraine Okada Executive Manager, Carlsmith Ball, LLP.

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Presentation transcript:

Ms. Lorraine Okada Executive Manager, Carlsmith Ball, LLP

Labor Issues in the New Economy

The New Economy Visitor Industry Federal / Military Construction Industry Service Industry Technology Migrant Workers Global Competition World Wide Web Digital Economy Sustainable Economy

Visitor Industry

Arrivals from Russia 448.3%. Arrivals from China increased by 32.4 % GVB forecast 8 to 10 % increase in total visitor arrivals

Labor Market Employment Trends Unemployment Trends

Employment Projections

Employment Trend

Unemployment Trend

Economic Uncertainty UNCERTAINTY ABOUT BUILD-UP GUAM JOB COUNT DOWN, UNEMPLOYMENT UP GUAM TOURISM DOWN, BUT SOME MARKETS GROWING JAPAN IS GETTING BACK ON THEIR FEET FASTER THAN WE IMAGINED

Workforce Challenges Unemployment Education Skills Work Values Brain Drain Pay Equity Migrant Workers Diversity Technology Digital Divide Social Media World Wide Web

Opportunities Education = Employment = Economic Opportunities Workforce Development Partnerships: Private and Public NDAA: Hire Local and the Region Entrepreneurs are surging Build a strong regional workforce = strong regional economy

Workforce Development Resources Career & Technical Education Programs Workforce Investment Act - AHRD Scholarship Programs Manpower Development Apprenticeship Programs Guam Trades Academy Guam Community College University of Guam

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