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In the News

Labor Study to focus on educating career possibilities

Monday, December 12, 2016

The first phase of a study outlining vital statistics about the ten-county region’s labor market was presented in November to the Capital Area Economic Development District board, the region’s only economic development organization that covers the entire Metropolitan Statistical Area plus the surrounding counties.

The study shows that the region’s unemployment rate is low, but there are pockets of unemployment throughout the region especially among low skilled workers. It also showed that a significant share of new jobs were created in industries that pay less than $40,000 a year; however, there are several higher paying occupations that may require some education, such as nursing and accounting, where employers are seeking a number of workers.

“There are clearly, in general terms, positive returns to education, but a lot of that depends on the type of degree or credentials you obtain,” said Chris Schreck, CAPCOG Planning and Economic Development director, who compiled the statistics. “The data shows we need to do more to support efforts to align education and skills development with in-demand occupations if we want to sustain economic growth in the region.” Many of the region’s education and workforce organizations are already championing this cause, but the CAEDD wants to provide further support.

The CAEDD study includes a compilation of statistics such as the region’s unemployment rate, an employment by industry cluster forecast, employment by occupation group, wages by occupation group, occupation supply gaps in the region, and occupation supply gaps by education attainment. The next step at the committee’s direction will be to condense the data into a more focused statement of key issues to help draw attention to critical workforce needs that span across the Capital Area.

> Review the first phase of the study.
> Read more about the Planning and Economic Development Division. 

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