Working in the New Global Economy

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Chapter 7

• Working in the New Global Economy

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Working in the New Global Economy

• Factors trends that will shape the way we work,
  play learn
• Changes in work activity production
• Scope shape of the us labor force
• State labor market information
• Economic change CIP

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What Do These Things Have in Common?
SUNBELT
SUNBELT
9/11
TERRORISM
FAST FOOD
FAST FOOD
AIDS
BABY BOOMLET
MTV
AMERICANS WITH DISABILITIES ACT
LOCAL AREA NETWORKS
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Using Labor Market Information

• Making educational decisions
• When looking for a job
• While employed thinking about a career change

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Global Enterprise Webs

• high value, complex, flexible work organizations,
  often temporary
• independent profit centers
• spin-off partnerships
• spin-in partnerships
• licensing
• pure brokering

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Labor Market Trends

• Big Growth Occupations
• vs.
• Fast Growth Occupations

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Sources of Labor Market Information

• Government Agencies
• Federal State
• Professional Trade Associations
• Private Publishers System Developers
• Futurist Organizations

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Federal Government Sources

• U.S. Department of Labor/Bureau of Labor
  Statistics
• - Occupational Outlook Handbook
• http//www.bls.gov/oco/
• Occupational Outlook Quarterly
• Monthly Labor Review
• - www.careeronestop.org

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Factors/Trends that Influence the Labor Market

• Natural disasters
• World political events
• Government spending
• New welfare or student aid programs
• Technological innovations breakthroughs
• New laws

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National Labor Market...
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The civilian labor force is projected to grow to
162 million.
Millions
Population
Labor force
Source Bureau of Labor Statistics
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The size of the civilian labor force ages 55-64
will increase significantly.
Projected numerical change, 2002-12
Source Bureau of Labor Statistics
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Labor Force Participation Rate by Sex
Percent, 1952-2002 and projected 2002-2012
Men
Total
Women
projected
Source Bureau of Labor Statistics
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Womens share of the labor force edges up.
Percent of labor force
Women
Men
projected
projected
Source Bureau of Labor Statistics
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Service-providing industries continue to lead
employment growth
Millions of nonfarm wage and salary jobs
Goods-producing
Service-providing
projected
projected
Source Bureau of Labor Statistics
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Education and health services and professional
and business services account for nearly half of
projected total employment growth
Thousands of nonfarm wage and salary jobs, 2002-12
Source Bureau of Labor Statistics
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Three of the 10 fastest-growing industries over
2002-12 are computer related, two are health
related.
Percent change
Software publishers
Management, scientific and technical consulting
services
Community care facilities for the elderly
Computer systems design and related services
Employment services
Vocational rehabilitation services
Ambulatory health care services
Water, sewage and other systems
Internet services and data processing services
Child day care services
Source Bureau of Labor Statistics
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The 10 industries with the largest employment
gains.
Thousands of additional nonfarm wage and salary
jobs, projected 2002-12
Source Bureau of Labor Statistics
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Six of the ten fastest growing occupations are
health related, three are computer related.
Percent change, projected 2002-12
59
Physicians assistants
Source Bureau of Labor Statistics
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Education and Training Pays
Unemployment rate in 2003
Median weekly earnings in 2003
1,349
Doctoral degree
1,307
Professional degree
1,064
Masters degree
900
Bachelors degree
672
Associate degree
622
Some college, no degree
554
High school graduate
Some high school, no diploma
396
NOTES Unemployment and earnings for workers 25
and older, by educational attainment earnings
for full-time wage and salary workers
Source Bureau of Labor Statistics
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State Government

• Agency for Workforce Innovation
• Florida Industry Occupational Employment
  Projections 2001-2010
• www.labormarketinfo.com

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EMPLOYMENT GROWTH BY INDUSTRY DIVISION FLORIDA,
1999 - 2009
SOURCE Florida Research and Economic Database
Florida Agency for Workforce Innovation, Office
of Workforce Information Services,Labor Market
Statistics, Occupational Employment Projections
Unit
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EMPLOYMENT GROWTH IN RETAIL TRADE FLORIDA, 1999 -
2009
SOURCE Florida Research and Economic Database
Florida Agency for Workforce Innovation, Office
of Workforce Information Services,Labor Market
Statistics, Occupational Employment Projections
Unit
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EMPLOYMENT GROWTH IN FINANCE, INSURANCE, AND REAL
ESTATE FLORIDA, 1999 - 2009
SOURCE Florida Research and Economic Database
Florida Agency for Workforce Innovation, Office
of Workforce Information Services,Labor Market
Statistics, Occupational Employment Projections
Unit
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EMPLOYMENT GROWTH IN SERVICES FLORIDA, 1999 - 2009
SOURCE Florida Research and Economic Database
Florida Agency for Workforce Innovation, Office
of Workforce Information Services,Labor Market
Statistics, Occupational Employment Projections
Unit
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EMPLOYMENT GROWTH IN GOVERNMENT FLORIDA, 1999 -
2009
SOURCE Florida Research and Economic Database
Florida Agency for Workforce Innovation, Office
of Workforce Information Services,Labor Market
Statistics, Occupational Employment Projections
Unit
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OCCUPATIONS GAINING THE MOST NEW JOBS IN FLORIDA,
2002-2010Actual Job Increase
SOURCE Florida Occupational Highlights
2002-2010, 2003 Edition Agency for Workforce
Innovation, Office of Workforce Information
Services, Labor Market Statistics, Occupational
Employment Projections Unit
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THE FASTEST-GROWING OCCUPATIONS IN FLORIDA,
2002-2010Annual Percentage Increase
SOURCE Florida Occupational Highlights
2002-2010, 2003 Edition Florida Agency for
Workforce Innovation, Office of Workforce
Information Services, Labor Market Statistics,
Occupational Employment Projections Unit
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CIP Perspective The New Global Economy

• Self-Knowledge
• What interests, values skills are needed?
• Relationship between Holland codes qualities
  needed in the workplace
• Personal traits mostly likely to be rewarded

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CIP Perspective The New Global Economy

• Option Knowledge
• Understanding nature of new kinds of work
  organizations
• New types of workers (e.g., knowledge workers)
• Global vs. local changes--impact of geography on
  options

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Decision Making

• Importance of career problem solving
  decision-making skills
• Ongoing use of the CASVE cycle

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Executive Processing

• Complexity of careers
• Managing ones career
• Thinking strategically and globally
• Work locally
• Monitoring market trends

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Summary/Closing

• Be a critical reader of outlook information
• Know limitations of outlook information
• Be aware of current trends but keep looking ahead
• Focus on a lifelong learning process
• Be true to thyself

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Some Better Questions to Ask

• What do I like best how can these things be
  part of my work?
• Whats important to me how does this relate to
  occupations Im considering?
• What are my most satisfying skills how can I
  use them in my work?
• What do I most want to accomplish in my work life?