The Burgeoning Economic Crisis: Challenges

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The Burgeoning Economic Crisis Challenges
Possibilities

• Presented by
• New Jersey State Employment and Training
  Commission
• In Partnership with
• New Jersey Department of Labor and Workforce
  Development
• January 27, 2009

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Submitting Questions
Chat Room

• Enter questions into the Chat Room (located in
  lower left corner of the virtual classroom).
• To submit a question or comment, type the
  question in the text box and click the arrow
  button.
• Your name, the text (Submitted Question) and
  your question will appear in red on your screen,
  indicating successful submission.
• Questions are directly transmitted to presenters
  other participants will not see your questions.

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Practice
New Jersey Workforce Investment Boards
In the chat room, please type the name of your
organization, your location, and how many people
are attending with you today.

• Atlantic/Cape May
• Bergen
• Burlington
• Camden
• Cumberland/Salem
• Essex
• Gloucester
• Greater Raritan
• Hudson
• Mercer
• Middlesex
• Monmouth
• Morris/Sussex/Warren
• Newark
• Ocean
• Passaic
• Union

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Welcome

• Chief Elected Officials
• County Freeholders
• Workforce Investment Board Members
• Workforce Investment Board Staff
• County Administrators

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Presenters

• Dennis M. Bone, Chair, NJ State Employment
  Training Commission and President, Verizon New
  Jersey Inc.
• Honorable David J. Socolow, Commissioner, NJ
  Department of Labor Workforce Development
• Yustina Saleh, Director, Labor Market and
  Demographic Research, NJ Department of Labor
  Workforce Development
• Moderator
• Robin M. Widing, Acting Executive Director, NJ
  State Employment Training Commission

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Goals of the Webinar

• Provide a current picture of the economic climate
  at the state, regional and local levels
• Hear your perspective on what you are seeing at
  the local level
• Discuss federal and state solutions that will
  benefit you now, and what you might anticipate in
  the near future

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Goals of the Webinar

• Stimulate discussion of solutions at the local
  level for addressing industry and job seeker
  needs at this time
• Reinforce the important role of local WIBs and
  One-Stop Career Centers in this economic climate
• Create an ongoing communication loop

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State of New Jerseys Economy

• Declining employment
• Employment losses in New Jersey industries
• Rising unemployment

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State of New Jerseys Economy
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State of New Jerseys Economy
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State of New Jerseys Economy
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State of New Jerseys Economy
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State of New Jerseys Economy
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NJ New UI Claims by Occupation Group
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Question

• Do you have any questions about the economic data
  we presented?

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Question

• What are the greatest challenges you are seeing
  at the local level?

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Solutions

• Governors Stimulus Initiatives
• Increased support for Unemployment Insurance
  claimants
• Federal Stimulus Package as initially projected
• New Labor Market Tools designed specifically
  for local WIBs and One-Stop Career Centers

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Governors Stimulus Package

• Four key elements
• Immediate assistance to those in greatest need
• Supports employment and economic activity
• Enhances NJs business climate and long-term
  economic prospects
• Remain fiscally responsible even in times of
  economic decline

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Governors Job Creation Initiatives

• Acceleration of previously planned public works
  estimated
• 3.3 billion in transportation projects creates
  28,000 jobs
• 1.8 billion in school construction creates
  15,600 jobs.
• Energy efficiency/carbon abatement projects
  creates hundreds of green collar jobs

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Governors Incentives for Business

• Investing in New Jersey
• Job Stimulus to small business For each new
  person hired full-time and retained for one year,
  a small business will receive a 3,000 rebate
• 7 rebate on capital expenditures
• One-year moratorium on the 2.5 commercial
  developers' fee

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Governors Additional Stimulus Initiatives

• 150 million foreclosure prevention
• 9 million for legal services in NJ
• 3 million supplemental appropriation for
  emergency food banks
• Expansion of energy grants
• Senior property tax freeze
• Cap increased to 80,000 over 3 years
• 70,000 seniors will be helped

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Increased Support for UI Claimants

• An additional 33 weeks of UI have been added for
  those eligible
• Under normal conditions, UI maximum number of
  claim weeks allowed is 26
• Existing staff redeployed to assist UI claimants
• UI hired an additional 130 staff statewide
• Local One-Stop Career Centers anticipate an
  increase in staff of two to three people

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Proposed Federal Stimulus Initiatives

• 4 billion for job training for adults,
  dislocated workers and youth
• Includes 1.2 billion for summer jobs
• 2.5 billion for TANF block grants to states
• 27 billion extended unemployment benefits
• 500 million for employment services
• 250 million for economic development assistance
• 1 billion for community service block grants
• 800 million for construction or upgrading of
  rehabilitation centers, Job Corps facilities, etc.

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New Labor Market Information Tools
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Tool 1
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NJ Companies Hiring
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Tool 2

• Which jobs are in demand today?
• Which jobs will be in demand in the future?
• Which jobs are experiencing a labor shortage?
• How much are these jobs paying?
• Do I have the necessary credentials for my next
  job?

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Real Time Jobs in Demand
December 2008 Job Seekers with Associate Degrees
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Real Time Jobs in Demand

• Incorporates long-term trends plus all current
  job openings in New Jersey
• Provides information about competition over the
  same jobs
• Based on all these factors, each job gets a
  "demand rank" that shows which ones are most in
  demand

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Real Time Jobs in Demand
Reflects Various Educational and Training Levels
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Real Time Jobs in Demand

• Data is revised every month
• Use these reports to get the best picture of New
  Jersey's job market today
• To see the full list of jobs in demand and for
  more information go to
• http//lwd.dol.state.nj.us/labor/lpa/content/RealT
  imeJobsinDemand.html

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Tool 3

• Tool targets entry and mid-level income
  professionals
• It is designed to connect dislocated workers with
  new and emerging job opportunities
• Lists options available for job seekers in
  various occupation groups according to their
  career goals

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Manual for Transitioning Dislocated Workers

• Lists options for those looking to move up
  career ladders, move horizontally across career
  lattices, and those looking to transfer their
  current skills into another job
• Tool provides information on relevant training
  programs and certificates, as well as training
  providers that offer these programs
• Manual can be retrieved online at
  http//lwd.dol.state.nj.us/labor/lpa/pub/manualser
  ies.html

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SETC/WIB Partnership Goals

• Identify future industry needs and challenges
• Be responsive to local business and industry
• Prepare for increased demand of job seekers
• Plan for changes in funding levels and priorities
• Ensure ongoing communication between the state
  the local areas

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Question

• What action steps do you recommend WIBs engage in
  to address your current local economic issues?

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Question

• Suggest ways the State and WIBs can partner in
  anticipation of the federal economic stimulus
  package?

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Question

• What specific suggestions do you have for the
  SETC to expand ongoing communication in response
  to this economic crisis?

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SETC Website

• Materials from todays session will be posted on
• www.njsetcwebinars.net
• or call Robin Widing at
• 609.633.0605

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Question and Answer Period
Please enter your questions into the Chat Room!
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THANKS
www.njsetcwebinars.net