Occupations in Demand

About

Description

Occupations in Demand (OID) lists current career opportunities in a region as determined by regularly updated local labor market data. The OID list for a region is the group of occupations that rank highest on a Current Demand Indicator, which measures short-term demand for jobs locally.

Data sources

The OID Current Demand Indicator is calculated on the basis of the following data sources:

• Job Vacancy Survey
• Occupational Employment Statistics
• Unemployment Insurance claims

In addition, OID lists also include future occupational outlooks supplied by the Employment Outlook program, wage data from Occupational Employment Statistics, information on the typical training (or degree) required as determined by the U.S. Bureau of Labor Statistics, and details on related training programs offered around the state.

How is it used?

• By job seekers and employment counselors for job search and career planning.
• By counselors to allocate training resources more efficiently, therefore benefiting the regional economy.
• For developing regional labor market profiles.

How is the data formatted?

Viewable data tables that can be sorted by any of the variables displayed. Files are downloadable.

Definitions

Occupations are classified using the U.S. Department of Labor’s Standard Occupational Classification (SOC) typology. Only annual salary statistics are presented.

Program notes

Projection information displayed alongside with OID regional lists applies to planning areas.

Methodology

Occupations in Demand (OID) are currently available career opportunities as determined by local labor market data. A demand score blends Job Vacancy Survey (JVS) data, Occupational Employment & Wage Statistics (OES) data, and Unemployment Insurance (UI) claims data.

Job vacancies by Region

There are six planning regions in the state. A high number of vacancies will increase the occupation's demand score.

Number of existing jobs from Occupational Employment & Wage Statistics (OEWS) in the Region

Having a high number of jobs in a given region increases the demand score for that occupation.

Number of UI weeks claimed

A high number of Unemployment Insurance weekly claims will reduce the occupation's demand score because a high available local supply of experienced workers in an occupation can indicate re-employment difficulty within a region.

Seasonality in the occupation as measured by the Job Vacancy Survey

A high share of vacancies that are reported as temporary will tend to pull the score down because it indicates seasonality and/or the predominance of short-term job opportunities in the field.

The OID list for a region is the group of occupations that rank highest, given all these factors.

Because the statistics are not perfect and to make use of more recent information that the statistics may not take into account, Regional Analysts review lists for their regions and edit them based on local knowledge. For example, a regional analyst may have first-hand knowledge of a business opening shortly which will result in numerous job opportunities not yet captured by the Job Vacancy Survey.

In addition to the demand score, OID web presentation also include future occupational outlook information supplied by the Employment Projections program, median wage data from OES, and the typical training (or degree) required as determined by the U.S. Bureau of Labor Statistics (further customized for Minnesota to reflect local training requirements) as well as a link to information on related training programs offered around the state. This information helps the user determine if the job is attractive and what skills or training might be necessary to obtain it.

How is OID Calculated?

OID ranks occupations on the basis of the following variables:

Formula

EMPLOYMENTshare + JVshare - 0.5*UIshare – 0.5*SEASONALITYshare

Definitions

• Employment Share for an individual occupation is the occupation's share of total regional employment
• JV Share for an individual occupation represents the occupation's vacancies as a share of all vacancies reported within the region over the last two years.
• UI Share for an individual occupation is the occupation's share of total weeks of Unemployment Insurance claimed in the region over the last year. This score is preceded by a minus sign because it is used to reduce an occupation's short-term demand.
• Seasonality Share has been calculated as follows:

This score is preceded by a minus sign because it is used to reduce an occupation's short-term demand based on the level of seasonality within that occupation.

Glossary

SOC Code

Occupations are classified using the U.S. Department of Labor’s Standard Occupational Classification (SOC) typology.

Current Demand Rank

Displays all occupations ordered from those with most favorable current demand to those with less favorable current demand conditions. A rank order of "1" corresponds to the most favorable current demand conditions.

Current Demand Indicator

Represents how favorable current demand conditions are for an occupation relative to other occupations in the same region. Occupations are rated using a combination of local labor market data, and then assigned an indicator from "Five Stars" (more favorable current demand conditions) to "One Star" (less favorable current demand conditions).

25th Percentile Wage

The point at which 75% of workers earn more and 25% of workers earn less.

Median Wage

The point at which half of all workers earn less and half earn more. Wage is defined here as straight-time gross pay, including base pay, incentive pay such as commissions and production bonuses, and tips.

Growth Rate

A measure of how fast an occupation is expected to create jobs over the most recent 10-year projection period. To view detailed growth percentage data for the occupation click on the occupational title.

Total Openings

A measure of how many jobs there will be in an occupation over the most recent 10-year projection period.

Education and Training Requirements

Categories that best describe the most common postsecondary-education or training needed by most workers to become fully qualified to work in an occupation.