Navigating Vermont’s labor market
Explore the impact of the pandemic on Vermont's labor market, unemployment insurance claims, industry details, and skills employers seek. Discover opportunities for career planning and job search in Vermont.
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Presentation Transcript
Navigating Vermonts labor market Career planning and work search in 2020 *Important Note: I am not an epidemiologist
The Economic & Labor Market Information Division Housed in the Vermont Department of Labor State partner to the Federal Government 100% federally funded Thank you to the USDOL Employment & Training Administration! Purpose: to produce, explain and disseminate economic data for the benefit of the State of Vermont, educational institutes, employers, students, job-seekers, researchers, and the general public.
Agenda The impact of the Pandemic Unemployment Insurance Claims Current Employment Statistics Industry Detail Local Area Unemployment Statistics Demographics of job losers Some things that have not changed Skills and abilities What employers seek There are a LOT of open positions right now. Great time for career exploration. Questions / Discussion
Unemployment Insurance Claims March August 2020
Today Today
Total Nonfarm <Jump to CES Tableau at www.vtlmi.info>
Concentrated Losses Top 3 losses in employment by number of jobs (May2020 to May2019): Accommodation and Food Services, -18,400 jobs Retail Trade, -7,700 jobs Health Care and Social Assistance, -6,200 jobs (this would include daycares, dentist offices, etc.) Top 3 losses in employment by percent of jobs (May2020 to May2019): Accommodation and Food Services, -56.1% Arts, Entertainment & Recreation, -34.8% (equates to a loss of 1,600 jobs over the year) Construction, -26.1% (equates to a loss of 4,000 jobs over the year)
Labor Force and Unemployment <LAUS Tableau> Receiving Unemployment Benefits Unemployed
Unemployment Rates, 1990 - Present FRED Graph
Looking Ahead The crystal ball is cloudy!
Much Uncertainty Consumer Sentiment Government Ordinances Business Failures Stimulus Packages The Spread of the Disease The Atlantic, A. Lowrey, 6/23/2020
Things that havent changed Finding meaningful work and meeting the needs of employers
What do Employers Tell Us They Need? Show up to work on time, ready to work Critical thinking skills Customer service skills Basic math and language skills How can you demonstrate to employer that you fit these needs?
*Version 3* (Version 4 now available!) A Continued Partnership with the McClure Foundation Highlighting E&LMI Data
R RESOURCES ESOURCES In addition to the brochure, -www.mcclurevt.org/pathways -MyskillsMyfuture.org -MyNextMove.org -GetMyFuture.org -VTLMI.info >> Watch Videos on Careers. www.vtlmi.info
Final Thoughts Too many unknowns to predict where VT / US / global economies are heading The skills of yesterday are the skills of today Many of which will continue to be the skills of tomorrow More information leads to better decisions VTLMI.info has a wealth of free information
Thank you! Provide feedback at VTLMI.info Kevin Stapleton Economic & Labor Market Information Division Vermont Department of Labor Kevin.stapleton@Vermont.gov
