Skills Ready - Profile
Do you have the skilled labor we need for our project?
What are the wages for these occupations?
To answer these questions from business executives or site consultants, Smart Solutions Group will develop a Skills Ready Profile for your labor market. The Profile is a marketing document that provides information on the labor market for a county or regional workforce. The labor market is determined by commuting patterns that are reported by the U.S. Census Bureau.
The Profile contains the following labor market information:
- An overview of the workforce in your labor market
- An overview of the workforce for each of your target sectors or clusters
- Employment for each your targets by all occupations that are in the Standard Occupational Classification (SOC) System
- Number of workers in the target clusters/sectors with compatible skills for each occupation
- Earnings per Worker by occupation for your targets at the 25th percentile, median, and 75th percentile levels
- Median state and U.S. earnings per worker by occupation
- High school graduation rates and average scores on college entrance exams, if available
- Education and training programs
Employment and wage data from the Bureau of Labor Statistics (BLS) is the primary source of the data in the Profile. Since the BLS provides quarterly updates of the data, the Profile can be updated on a quarterly, semi-annual, or annual basis.
The following are the ways an economic developer can use the Profile:
- Companies being recruited to the area can determine the availability of skilled labor and the wages for the jobs they plan for their new operation.
- Local companies in your target sectors can see if your labor market has the skilled labor they need for expansion.
- Local companies can compare their wages with the wages paid by all companies in the sector that are located in the labor market.
- The wage information can be used by entrepreneurs in setting wages in their start-up business.
- Economic developers can use this information in their interviews with local employers in helping them determine the cause(s) of the difficulties in hiring skilled workers such as the lack of skilled workers in the labor market, the employer’s wages are below average, etc.