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Education & Training Needs for Missouri's Workforce 2008-2018 PDF

2018·0.21 MB·English
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Education & Training Needs for Missouri’s Workforce 2018 An adequately trained workforce is essential for successful economic development – benefiting business, government, and labor. By understanding the current and future demand for skilled labor, workforce and education agencies can target resources to meet this demand. EEEmmmpppllloooyyymmmeeennnttt   Occupations not requiring any education beyond high school are expected to account for the largest portion of 2018 employment. However, these jobs are expected to be among the slowest growing of all occupations. Employment 2008‐2018 35,483 Professional degree 38,219 34,129 Over 50 perce nt of Doctoral degree 38,258 workers in Mis souri are Master's degree 4438,,140573 employed in 105,830 occupations th at BA/BS or higher, plus work exper. 106,661 typically requi re on- 363,926 the-job trainin g. The Bachelor's degree 394,172 125,642 Base 2008 majority of this training Associate degree 140,870 Projected 2018 can be acquir ed in a 173,587 moderate (les s than 12 Postsecondary vocational training 182,215 months) or sh ort (less 226,916 than one mon th) period Work experience in a related occ. 228,549 of time. Long‐term on‐the‐job training 220191,,428599 554,019 Moderate‐term on‐the‐job training 557,960 1,045,162 Short‐term on‐the‐job training 1,067,486 GGGrrrooowwwttthhh OOOpppeeennniiinnngggsss   By 2018, Missouri’s economy will need to fill over 829,000 job openings due to growth or replacements. Job Openings 2008‐2018 9,852 Professional degree Job openings in 10,512 occupations requiring Doctoral degree on-the-job training will 14,344 Master's degree be largely due to high 30,046 levels of employee BA/BS or higher, plus work exper. turnover, whereas jobs Bachelor's degree 110,559 requiring 39,654 Openings due to Replacements Associate degree postsecondary degrees Openings due to Growth will see more openings Postsecondary vocational training 46,273 from business 51,445 Work experience in a related occ. expansions. 51,888 Long‐term on‐the‐job training 131,472 Moderate‐term on‐the‐job training 333,595 Short‐term on‐the‐job training TTTrrraaaiiinnniiinnnggg IIInnn DDDeeemmmaaannnddd   Fast growth in occupations means that they will provide a large share of new positions in the future, thereby providing better employment prospects and more favorable conditions for mobility and advancement. Growth Rate 2008‐2018 7.71% Professional degree 12.10% Doctoral degree Missouri’ s fastest 12.40% Master's degree growing occupatio ns in the BA/BS or higher, plus work exper. 0.79% next ten y ears are 8.31% Bachelor's degree those tha t require 12.12% education and/or Associate degree training b eyond 4.97% Postsecondary vocational training high scho ol. 0.72% Work experience in a related occ. Long‐term on‐the‐job training 0.84% 0.71% Moderate‐term on‐the‐job training 2.14% Short‐term on‐the‐job training The statewide average for growth across all occupational categories is 5.71 percent. EEEddduuucccaaatttiiiooonnn PPPaaayyysss   In general, jobs that require college training are among the highest paid and fastest growing. Average Wages 2008 Training resulting in $129,222 high wage gains of Professional degree $59,666 more than $30,000 Doctoral degree $38,190 $68,540 include: professional degrees, doctoral Master's degree $32,762 $48,834 degree, and BA/BS or higher, plus work exper. $50,264 $91,099 bachelor’s degrees $55,839 plus work experience. Bachelor's degree $34,615 $50,723 Associate degree $35,922 Training resulting in $31,607 smaller wage gains Postsecondary vocational training $21,780 of $17,000 or less Work experience in a related occ. $30,719 $51,670 Average Wages include: short-term $42,340 Entry Wages on-the-job training Long‐term on‐the‐job training $25,495 and moderate Moderate‐term on‐the‐job training $21,46$032,496 on-the-job training. $22,853 Short‐term on‐the‐job training $16,812 Data Sources: MERIC Long-term Occupational Projections, MERIC Occupational Employment and Wage Survey. Education and experience ratings reflect the typical training needed to obtain employment in the occupation using national averages, and do not reflect required training; produced by the US Department of Labor (BLS, ETA). Telephone: (866) 225-8113; Email: [email protected]

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