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A Publication of the Labor Market Information Institute
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Welcome to the First LMI Insider of 2021!
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We are excited to start the year with you and look forward to serving as a resource for your team in the coming months.
Over the last few months, the LMI Institute and Projections Managing Partnership (PMP) staff and boards have been busy working to develop and adopt new three-year strategic plans (linked below). Among the priorities identified are educating partners, stakeholders, and customers on the importance of LMI and the resources needed to continue to provide quality data, promoting peer networking and enhanced training opportunities, featuring innovative work and content, just to name a few.
2021 – 2023 LMI Institute Strategic Plan – Adopted December 2, 2020
2021 – 2023 PMP Strategic Plan – Adopted September 16, 2020
The PMP board would like to announce Amy Faulkner, California, as the new Board Chair and Dan Robinson, Alaska, as Vice Chair. We are excited to work with Amy and Dan in 2021 and thankful to Rachel Moskowitz, New Mexico, for her leadership over the last year.
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Occupational Wage Comparison Tool: How do Registered Nurse Salaries Compare?
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The LMI Institute offers products and benefits exclusive to members. Since 2018, the Institute has published the Cost of Living (COLI) Adjusted Occupational Wage Comparison Tool. The tool provides wage estimates for various occupations across geographies all adjusted for local cost of living conditions based on C2ER’s unique measure.
Nurses are vital professional servants and front-line heroes with the pandemic. Using the LMI Institute’s Occupational Wage Comparison Tool, we looked at what states offer the highest annual salary for Registered Nurses adjusted to the area’s cost of living. Registered Nurses in California are the highest paid on average and highest when adjusted for cost of living. Michigan RNs rank 22nd in pay at $73,200, however, the cost-of-living adjusted salary is $80,849. This tells us nurses in Michigan are the second best paid in the U.S., once adjusted to housing costs and other expenses.
Download all the data for Registered Nurses in all states here.
LMI Institute Members can download the full dataset in the Member Area. Non-members can learn more online or contact Jennie Allison or Marty Romitti.
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Upcoming Events, Trainings, and Webinars
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Basic LMI Analyst eLearning
Anytime anyplace
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Webinar:
The Workforce Information Advisory Council (WIAC): Recommendations on Workforce and Labor Market Information
January 26, 2021
2:00 PM – 3:00 PM ET
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Intermediate R Programming
February 16, 18, 23, 25,
and March 2, 4, 2021
4:00 PM – 6:00 PM ET
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2021 LMI Institute Annual Forum
The Great Pivot: Reinvention for Recovery and Resilience
June 7 – 11, 2021
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Insider View – Be in the Know
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Advancing Workforce Equity with LMI Data
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The face of the nation is changing—and with it, the demographics of the workforce. In about 25 years, the United States will no longer have a single majority racial/ethnic group. White people comprise 62 percent of the U.S. workforce overall, but 75 percent of those are ages 55 or older. As baby boomers retire, they are being replaced by a much more diverse generation of workers. As people of color become much of the U.S. workforce, racial inequities in the labor market represent a rising liability for the economy. For instance, racial gaps in the share of workers earning at least $15/hour have been persistent over the past several decades.
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State LMI shops and workforce researchers have an important role to play in advancing equity, with some already being asked to answer questions on the topic with data, suggest appropriate performance indicators, or to develop dashboards to track progress over time.
Besides BLS data, the American Community Survey provides important insights into this topic. The National Equity Atlas is one source using ACS-based indicators to track how communities are doing on key measures of inclusive prosperity. The indicators track change over time, are comparable across geographies, and are disaggregated by race and other demographics as much as possible. PolicyLink and the USC Equity Research Institute built the Atlas with support from the Ford Foundation, Marguerite Casey Foundation, Robert Wood Johnson Foundation, Surdna Foundation, JPMorgan Chase Foundation, and W. K. Kellogg Foundation. View the data on the National Equity Atlas here.
The LMI Institute wants to support efforts, and to feature the work of our members, on Advancing Workforce Equity with LMI Data. If you have reports or resources you would like to share with the member network, please contact Marty Romitti at the LMI Institute. Read the post online here.
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Featured Reports From LMI Members
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Maine’s Labor Market During the Pandemic: Job Impact by Sector and a Comparison to the Last Recession
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Check out Maine Department of Labor’s Center for Workforce Research and Information’s latest report on the impact by sector compared to the last recession. Discover more here.
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Illinois Industry Projections Tableau Dashboard
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The Illinois Department of Employment Services created an interactive dashboard comparing industry projections across the state. Read more here.
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We welcome your feedback on this edition, and for content suggestions in future editions, of The LMI Insider. Please direct comments, questions, or for more information on the LMI Institute to Marty Romitti, CREC Senior Vice President, at mromitti@crec.net
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To subscribe to the C2ER/LMI Weekly Updates click here
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