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Insights For Action

How the MSP Region is Addressing the Growing Talent Crisis with Analysis of Real-time Labor Market Data

In the last few years, a range of online analytical tools has enabled a clear view of our dynamic and constantly changing labor market. For the first time, this data is available to job counselors and planners not just as information for reflection, but as a real-time action tool to direct jobseekers to the best opportunities. This report outlines our approach to taking the first step in addressing this crisis: documenting the labor shortage and skills gap, identifying the impact that our programs and initiatives could have on closing those gaps, and building a strategy for a more systematic and employer-led long-term solution.

We believe workforce development must now be based on a real-time feedback loop. Without a clear line of sight into the current labor market realities, it is impossible to advise job-seekers effectively, meet employer talent needs, or plan effective educational systems. We have learned that in a program-rich, systems-poor environment, context in real dataand short-term outcomes can help move out of the spin-cycle of planning and into systems change.

However, a strong report alone will not lead to systematic change, better programs, or improved outcomes without engaging the necessary leaders to take the next step. Even after reviewing the wealth of LMI, job postings, and educational data at our disposal, it is still essential to get out in the field and talk to employers, training program managers, K-12 educators, and postsecondary directors get their take on the accuracy and relevancy of the data and your conclusions from it.  Only then can we identify solutions that ensure employers have the workers required to sustain and grow Minnesota’s economy.

Real Time Talent and MSPWin will continue to promote and expand demand-driven solutions that are grounded in the realities of talent supply limitations and opportunities. We hope that this implementation guide is an important step toward building the next generation of cross-sector, employer-led education and workforce collaboratives to address the workforce challenges of our time.

Click HERE to read the full report.

As Labor Shortage Looms, Metro Workforce Planning Ramps Up

The 7-county Minneapolis-Saint Paul region faces a worker shortage of over 62,000 by 2020. RealTime Talent and MSP Win are bringing new research to the table to help workforce planners mobilize around our current and future needs, an essential step if we are to maintain our region’s growth and competitiveness.

Workforce development professionals must be able to quickly support each jobseeker to identify and train for the career they aspire to; using data analytics on a regular basis creates stronger coordination between organizations and the best results for both jobseekers and employers.
In the last few years, a range of online analytical tools have enabled a clear view of our dynamic and constantly changing labor market. For the first time, this data is available to job counselors not just as information for reflection, but as a real-time action tool to direct jobseekers to the best opportunities.

We have developed a series of Sector Analysis Reports – a regional overview document and its one-page profiles of IT, manufacturing, construction, healthcare, business and financial services, and government – to provide an analytical methodology to know and react to demand, supply, and training program outcomes. In other words, these tools can help us more efficiently close the worker gap. We hope that you see value in this data and decide to replicate this kind of analysis in your own sectors and communities.

We believe workforce development must now be based on a real-time feedback loop. If you don’t know the analytics and if you can’t easily answer the top two jobseeker questions in an informed way, you can’t advise jobseekers well and you can’t help close the gap. So let’s start doing things differently.

Read, download, or print the full reports here, or take a look at the Information Technology sector overview report here.

Hispanics and Latinos in the Workforce

September 15th through October 15th is National Hispanic Heritage Month.  Hispanic and Latino people began to arrive to Minnesota in significant numbers in the early 1900’s.  Currently, over 280,000 Hispanic and Latinos reside in Minnesota.  This infographic details the impact our Hispanic and Latino population has on our state and the workforce.

 

 

To download a PDF copy of this graphic, click here.

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