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NORTH SHORE WORKFORCE INVESTMENT BOARD North Shore Labor Market Presentation 1/7/2013.

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NORTH SHORE WORKFORCE INVESTMENT BOARD North Shore Labor Market Presentation 1/7/2013
Transcript

NORTH SHORE WORKFORCE INVESTMENT BOARD

North Shore Labor Market Presentation1/7/2013

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North Shore Workforce Investment Board

• One of 16 WIBS in Massachusetts• Headquartered in Salem and serving 19 cities

and towns north of Boston• Board is business led but includes other

members• Budget of about $6 million• Performs labor market research, manages

career centers• Provides funding for individuals (including

youth) and companies to address their workforce needs.

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The Environment… North Shore WIB Region

Oct-07 Jan-10 Oct-13

-Date of lowest unemployment rate

- Height of the recession

- Most recent month available

Unemployment Rate 3.80% 9.20% 6.60%

Number of employed residents 206,137 195,871 203,167

Number of Unemployed 8,135 17,448 14,313

UI Claimants 3,581 8,187 4,434

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North Shore Labor Force, Employment, and Unemployment 1/2011-10/2013

Year MonthLabor Force Employed Unemployed

North Shore Rate %

Massachusetts Rate %

2013 October 217,480 203,167 14,313 6.6% 7.2%

2013 July 221,122 206,161 14,961 6.8% 7.2%

2013 January 217,745 202,410 15,335 7.0% 6.7%

2012 July 217,926 203,922 13,639 6.3% 6.8%

2012 January 215,276 199,240 16,036 7.4% 6.9%

2011 July 216,176 200,965 15,211 7.0% 7.4%

2011 January 214,735 197,399 17,336 8.1% 7.8%

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NORTH SHORE PRIORITIES

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Labor Force Blueprint

What we looked at:-Number of Jobs-Skill and Education Requirements, and Wages of Critical Occupations-Career Ladder Opportunities-Level of Interaction with Workforce System-Projections of future employment opportunities-“Horse-Sense”

Critical Industries Identified:• Health Care •Construction Trades•Manufacturing •Financial Services

NORTH SHORE PRIORITIES

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Investment SnapShotWho was interviewed:-Banks-Venture Capital/Investment Managers-Government and Non-Profit agencies-Business Parks/Real Estate Brokers and Leasing Agents-Construction and Real Estate Development Industry

Key Sectors Identified:• Health Care •Life Sciences •Manufacturing •Financial Services

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Top 10 Industries of Employment on the North Shore

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,0002003 2008 1st Q 2013

* Public Administration, Wholesale Trade, Information, Non-Durable Goods Manufacturing, Arts, Entertainment, and Recreation, Transportation and Warehousing, Real Estate and Rental and Leasing, Management of Companies and Enterprises, Utilities, Agriculture, Forestry Fishing, & Hunting, Mining

• Total Employment in 1st Quarter 2013 was 165,075

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2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 1st Q2013

-

5,000

10,000

15,000

20,000

25,000

30,000

35,000

Healthcare Durable Goods Manufacturing Construction Finance & Insurance

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Critical Industry Employment on the North Shore 2003-1st Q 2013

Current Employment Levels:• Health Care 34,293• Durable Goods Manufacturing 12,238• Construction 6,243• Financial Services 5,442

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Health Care Establishments 2009 to 1st Quarter 2013

Ambulatory Health Care Services

Hospitals Nursing and Residential Care Facilities

Social Assistance 0

200

400

600

800

1000

1200

2009 2010 2011 2012 1st Q2013

2009 2010 2011 2012 1st Q20130

500

1,000

1,500

2,000

2,500

Health Care and Social Assistance

• 2,028 establishments in 1st Q’13

• Large increase in Social Assistance • Is it real?

• Ambulatory Health Care:• 33% Physicians Office• 33% Dentist Offices• 20% Other Health Care Practitioners• Remaining is a mix of Diagnostic Laboratories,

Home Health Care, Outpatient Treatment

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2,000

4,000

6,000

8,000

10,000

12,000

14,000

2009 2010 2011 2012 1st Q2013

Health Care Employment 2009-1st Quarter 2013

2009 2010 2011 2012 1st Q2013

30,000

31,000

32,000

33,000

34,000

35,000

Health Care and Social Assistance

• Largest Industry on the North Shore

• Consistent employment growth

• Opportunities available

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$0

$200

$400

$600

$800

$1,000

$1,200

2009 2010 2011 2012 1st Q2013

Health Care Average Weekly Wages 2009-1st Quarter 2013

• Health Care’s average wage of $884 is lower than the North Shore average wage of $964

• However, both Ambulatory Health Care Services and Hospitals have wages which are higher than the North Shore average.

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(Adapted from Central Iowa Works Health Care Career pathways project.)

*Requires certificate, license, registration or specific degree.

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Sample Health Care Career Pathways

Median Hourly Wage for a

Medical Assistant is

$16.17

Median Hourly Wage for a

CNA is $14.00

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Top 15 Occupations # of Openings

% of Total Health Care

Openings

Registered Nurses 169 16.8%Social And Human Service Assistants 81 8.0%Nursing Assistants 76 7.5%Mental Health and Substance Abuse Social Workers 42 4.2%

Medical And Health Service Managers 40 4.0%Medical Assistants 35 3.5%Medical Secretaries 28 2.8%Occupational Therapists 22 2.2%Social and Community Service Managers 21 2.1%

Physical Therapists 19 1.9%Executive Secretaries and Executive Administraive Assistants 17 1.7%

Mental Health Counselors 16 1.6%Customer Services Representatives 15 1.5%Home Health Aides 15 1.5%Licensed Practical And Licensed Vocational Nurses 15 1.5%

Top 15 Openings in Health Care 611 60.6%Total Health Care Openings 1008 100.0%

Health Care Online Job Postings From 8/2013 to 12/2013

• 1,008 job postings listed online in Healthcare on the North Shore

• The majority of these jobs require some type of training or college education

• Number one listing on the North Shore was for RN’s

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Top 15 Employers with Job Listings # of Openings % of Total

North Shore Medical Center 206 20.4%Kindred Health Care 96 9.5%Eliot Community 72 7.1%

North Shore Physicians Group 69 6.8%

CAB Health & Recovery 45 4.5%Genesis Health Care 32 3.2%Greater Lynn Senior Services 26 2.6%RehabCare 24 2.4%

Lahey Clinic 24 2.4%

Massachusetts General Hospital 23 2.3%

Spaulding Rehabilitation Hopital 21 2.1%

Cell Signaling Technology 16 1.6%Fresenius Medical Care 16 1.6%Seven Hills Foundation 16 1.6%

Baystate Health 16 1.6%

Top 15 Employers 702 69.6%Total Health Care Openings 1008 100.0%

Who’s Hiring Now?The Top 15 Employers Listing Job Openings on the North Shore

• 115 Health Care Employers listed job openings online

• Top Employer Cities:• Salem: 242 listings• Lynn: 192 listings• Danvers: 168 listings• Beverly: 111 listings• Peabody: 105 listings• Saugus: 74 listings• Gloucester: 51listings

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Financial Service Sub-Sector Establishments 2009 to 1st Quarter 2013

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50

100

150

200

250

2009 2010 2011 2012 1st Q2013

2009 2010 2011 2012 1st Q2013480

490

500

510

520

530

540

Finance and Insurance

• 500 establishments in 1st Q’13

• Decline in establishments is due to consolidation and industry automation

• Credit Intermediation:• 82% Banks• The rest is equal mix Non-Depository Credit

Intermediation (credit card companies & sales financing) and Related Activities to Credit Intermediation

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500

1,000

1,500

2,000

2,500

3,000

3,500

2009 2010 2011 2012 1st Q2013

Finance and Insurance Sub-Sector Employment 2009-1st Quarter 2013

2009 2010 2011 2012 1st Q2013

5,400

5,600

5,800

6,000

Finance and Insurance

• 350 jobs lost since 2009

• Employment decline due to a combination of technology advances and consolidation within industry

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Financial Activities Sub-Sector Average Weekly Wage 2009- 1st Quarter 2013

$0

$500

$1,000

$1,500

$2,000

$2,500

$3,000

2009 2010 2011 2012 1st Q2013

• One of the highest paying industries on the North Shore with an average weekly wage more than double the North Shore average

• Best entry level opportunities within Credit Intermediation

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Sample Financial Service Career Pathway

Median Hourly Wage for Tellers is $13.96

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Top 15 Occupations # of Openings

% of Total

Tellers 44 17.8%Customer Service Representatives 26 10.5%Securities, Commodities, and Financial Service Sales Agents 24 9.7%

First-Line Supervisors of Office and Administration Workers 11 4.5%

Financial Managers 9 3.6%Claims Adjusters, Examiners, and Investigators 8 3.2%First-Line Supervisors of Retail Sales Workers 7 2.8%Network and Computer Systems Administrators 7 2.8%Computer User Support Specialists 7 2.8%Computer System Analysts 6 2.4%Insurance Sale Agents 6 2.4%Comuter Programmers 5 2.0%Loan Officers 4 1.6%Personal Financial Advisors 4 1.6%General and Operations Managers 4 1.6%Credit Analysts 4 1.6%Marketing Managers 4 1.6%Cleaners of Vechicles and Equipment 4 1.6%Top 15 Occupations 184 74.5%Total Financial Services Openings 247 100.0%

• 247 Job Openings listed online in Financial Services

• Many Entry Level Opportunities

• Advancement will require training or College degree

• Industry Automation has created careers in several computer related fields

Financial Services Online Job Postings from 8/2013 to 12/2013

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Top 15 Employers with Job Listings # of Openings

% of Total

Eastern Bank 59 23.9%Bank of America 23 9.3%People's United Bank 18 7.3%Salem Five Savings Bank 15 6.1%The Bank of New York Mellon Corp. 15 6.1%Electric Insurance 14 5.7%AmeriPlan Corp. 13 5.3%QBE Holdings 10 4.0%J.P. Morgan Chase 9 3.6%Sovereign Bank 8 3.2%Citizens Bank 6 2.4%East Boston Savings Bank 6 2.4%Investors Capital Corp. 6 2.4%Enterprise 5 2.0%Affliated Managers Group 4 1.6%Top 15 Employers 211 85.4%Total Financial Services Openings 247 100.0%

Who’s Hiring Now?The Top 15 Employers Listing Job Openings on the North Shore

• 42 Financial Services Employers listed job advertisements online

• Top Employer Cities:• Salem: 47 listings• Beverly: 45 listings• Lynn: 45 listings• Danvers: 24 listings• Peabody: 22 listings• Lynnfield: 21 listings• Marblehead: 13 listings• Saugus: 12 listings

NORTH SHORE WORKFORCE INVESTMENT BOARD

70 Washington StreetSuite 314 Salem, MA 01970Tel. 978.741.3805

www.northshorewib.com

Ed O’Sullivan, [email protected]

Will Sinatra, [email protected]


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