What is labor market data?
Labor market data represents all quantitative (number-based) or qualitative (experience and trend-based) data and analysis related to employment and the workforce. This includes topics and data related to unemployment, wages, educational attainment, population
s and demographics, and any other metrics or information pertaining to workers, industry, and the economy.
Why does WIN work with labor market data and analysis?
The Workforce Intelligence Network’s (WIN) mission is to create a comprehensive and cohesive workforce development system in southeast Michigan that provides employers with the talent they need for success. To achieve this mission, WIN supplies the timeliest data and most thorough analysis focused on the unique needs of the region. More traditional sources of data are slower in updating data sets and keeping them current. Utilizing real-time posting data from frequently updated data resources in tandem with traditional data collection resources, WIN constructs applicable and specialized research to further economic development and aid the talent partners of southeast Michigan.
Who can use WIN labor market data?
WIN’s data is almost all publicly available on this website. Reports, one-pagers, and a data dashboard are available to anyone who visits the site.
Examples of how WIN partners use labor market data:
- Michigan Works! Agencies: Help connect job seekers to employment or identify applicable skills and training
- Educational Institutions: Better prepare curriculum to meet industry needs and educate students on the labor force
- Economic Developers: Aid in business attraction/retention and help clients understand labor supply
- Businesses: Assist in making informed decision on posting jobs, hiring workers, and improving business
- Job Seekers: Identify employment opportunities and required training, education, or skills needed in addition to the typical wages paid for each job
Anyone can use WIN labor market data in deciding careers, improving business, or even identifying workforce trends, and WIN’s custom data analysis will help serve all clients’ individual needs.
<4>How can labor market data be used?
Labor market data can benefit anyone from students preparing to enter the labor force to business leaders making important decisions. Examples of how to use labor market data:
- Identifying the current labor pool (education, work experience, commuting patterns, age, etc.)
- Finding potential job or career opportunities including pay and necessary requirements when applying
- Finding job opportunities are located both in specific fields or locations in which employers are hiring
- Learning the skills and credentials required for specific work to better apply or hire for positions
- Understanding the size and scope of employment within certain occupations and industries and identifying how many employers and employees are in those fields
- Identifying trends in employment to better prepare for the future, such as estimated job openings
Labor market data can be helpful to most everyone, whether it is used to tell potential workers what skills or education they need for the job, the average pay for a particular career, how industries or wages are growing, or even if a business should move into the southeast Michigan area!
What kinds of labor market data and reports are available through WIN?
WIN presents a variety of labor market analysis available through various sources. With the labor market changing regularly, the data and research team constructs new reports and updates older data and analysis by adding more content as it becomes available.
Some of the data and reports that are available through WIN include the following:
- Quarterly Reports: General summary analysis of the labor market produced each quarter for the 16-county WIN region
- Commuting Patterns: Analysis of commuting patterns of workers and residents of southeast Michigan counties
- Occupational Profiles: Analysis of specific occupations that provide information about wages, employment projections, and recent postings
- Working Smarter Special Report Series: Series of reports focusing on hot workforce trends, projections, and labor’s relationship to the economy
- Data requests: More information or customized data is available by request from WIN to meet specific needs.
*Have a specific request for data? Fill out this form and someone from the WIN research team will be in touch within 48 hours.
Where does WIN data come from?
WIN uses several proprietary and free data sources in analyzing the labor market.