Uses, Strengths, and Limitations of Real- Time Labor Market Data for - - PowerPoint PPT Presentation

LOIS JOY, PH.D. SENIOR RESEARCH MANAGER JOBS FOR THE FUTURE ACADEMY HEALTH BOSTON, JUNE 2016

Uses, Strengths, and Limitations of Real- Time Labor Market Data for Health Workforce Research

OVERVIEW OF PRESENTATION

> Comparing Traditional and Real-Time Labor Market Information > Overview of Real-Time Labor Market Information > Strengths and Cautions for Using Real-Time Labor Market Information for Health Workforce Research

TRADITIONAL LMI: SUMMARY

Characteristics of traditional labor market information: – Released at set intervals, typically every year or every five years – Can answer questions such as:

• How much employment is there in a particular industry/
• ccupation?
• Has there been job growth or decline in an industry/
• ccupation?
• What are the typical earnings for a particular position?
• How many jobs in an industry/occupation will an area

have in five years (projections)?

• What are the median wages for an occupation?

LMI CATEGORY: TRADITIONAL LMI

RT LMI COLLECTION

Coding

Assignments to industry, occupation, geography, skills

Clean Up

Removal of jobs with inappropriate content

De-duplication

Removal of jobs posted on more than one website

“Spidering” of Internet Job Boards

Job postings collected from thousands of online job boards

RT LMI CHARACTERISTICS

> Timeliness: Vendors spider up to 20,000 sites daily. – Does not require active employer participation > Quality assurance: Complex algorithms increase integrity and reliability of data provided for analysis and decision making. Often benchmarked against Job Opening and Labor Turnover Survey (JOLTS). > Current hiring trends: – In-demand experience levels, education requirements, skills and certifications – Not based on estimates or projections – Key word searches allow for finding information on new and emerging industries and occupations

Source: http://www.jff.org/publications/education/vendor-product-review-consumers-guide-re/1417

LMI CATEGORY: REAL-TIME LMI

Job Title: Software Engineer SOC: Software developers and programmers(15-1130) Education and experience Specific skills Job tasks Company name and location Industry: Manufacturing (NAICS 31-33)

http://jobview.monster.com/Software-Engineer-Job-Rochester-NY-110302486.aspx

COMPARING REAL TIME AND TRADITIONAL

CONTRIBUTIONS OF REAL-TIME LMI FOR HEALTH WORKFORCE RESEARCH

> Ability to search thousands of online job postings by many different fields including region, industry, skills required, education, and experience. > Data is more current than comparable federal labor market sources (ie JOLTS) but is correlated with JOLTS. > Can identify emerging occupations and skills in-demand. > Dynamic versus a static picture of the labor market.

HIGH PERCENTAGE OF HEALTHCARE OCCUPATIONS POSTED ONLINE

CAUTIONS IN USING REAL-TIME LMI FOR HEALTH WORKFORCE RESEARCH

> Not all jobs are posted online. > Job ads do not measure actual employment (or actual vacancies) > Jobs ads may represent multiple vacancies > Data needs to be checked for coding errors > Volatility of data make longitudinal analysis problematic (difficult to distinguish between changes in job ads and actual changes in labor demand.

FURTHER INFORMATION

> https://cew.georgetown.edu/wp- content/uploads/2014/11/OCLM.Tech_.Web_.pdf > https://cew.georgetown.edu/wp- content/uploads/2014/11/OCLM.Full_.Web_.pdf > http://www.jff.org/publications/real-time-labor-market- information-environmental-scan-vendors-and-workforce- development > http://www.hbs.edu/competitiveness/Documents/bridge- the-gap.pdf

LOIS JOY ljoy@jff.org

TEL 617.728.4446 FAX 617.728.4857 info@jff.org 88 Broad Street, 8th Floor, Boston, MA 02110 (HQ) 122 C Street, NW, Suite 650, Washington, DC 20001 505 14th Street, Suite 900, Oakland, CA 94612 WWW.JFF.ORG