The LMI Insider – January 2024

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January 2024

Welcome to LMI Insider –

A Publication of the Labor Market Information Institute

Announcing the Annual LMI Institute Forum:

Navigating Data for Economic Success 

It’s official: THE professional development event of the year for workforce development researchers is scheduled!

Pre-Conference Trainings: June 11, 2024 

Annual Conference: June 12 – 14, 2024 

Norfolk Waterside Marriott, Norfolk, VA

This year’s theme is Navigating Data for Economic Success. We will learn how local and regional researchers use data in innovative ways to create unique answers for your local economy.

Forum highlights include hearing from industry-leading keynotes, training classes, Researchers’ Roundtables, presentation of the annual Community & Economic Research Awards and Charles Benefield Award, and opportunities to build important networks within the research community.

Hotel reservations can be made at the link below.

HURRY: Early bird rates end on April 11th.

New Data Insights Roundtable Webinar Series 

Over the next year, the LMI Institute and Projections Managing Partnership (PMP) will be working with a select group of state LMI offices and their stakeholders to better understand LMI data user needs and develop additional resources for meeting them. This includes a new series, Data Insights Roundtable, examining how states are already successfully providing different user groups with the insights they need to make data-driven decisions.

This series starts with a presentation from Christine Blumauer and Nicol Nicola of the New Jersey Department of Labor and Workforce Development that will showcase how the Department’s Office of Research collaborates with its Office of Policy to maximize their data’s impact on public policy to help New Jersey’s workforce development efforts and protects New Jersey businesses. More information is below!

Upcoming Events, Trainings, and Webinars

Introduction to Labor Market Information eLearning

Available on demand – level-up new analysts ready to be introduced to the world of LMI

Anytime anyplace

Data Insights Roundtable: Policy Development from Inception to Implementation 

February 22, 2024

2pm EST

Virtual – this is a live event

Addressing Workforce Skill Gaps in Your Region Training 

June 11, 2024 

Norfolk, VA

LMI Institute Annual Forum

June 12-14, 2024 

Norfolk, VA

Insider View – Be in the Know

Future of Work

This past spring, the LMI Institute and Projections Managing Partnership (PMP) convened a group of workforce and economic development scholars to discuss what they see as the most important trends and challenges we are facing when looking at the future of work in our country, as well as to provide recommendations for how public LMI data systems, particularly state projections analysts, can plan for and address these trends.

This month we spotlight a paper by Henry Renski focused on  job postings data, which allow for valuable real-time analysis, as well as tracking long-term demand for various occupations and skills. However, these data are not without limitations and drawbacks. In this report, Dr. Renski evaluates ways that this data can be best used to make labor market predictions, as well as the potential risks of relying too heavily on new data sources.

Featured Reports and Tools

New Jersey Monthly Labor Market Spotlight

Each month the New Jersey Department of Labor and Workforce Development spotlights a different aspect of the state workforce. A unique way to recognize all the players of a state’s labor economy and to learn some interesting insights. January 2024 highlights the retail sector after a busy holiday season, the December 2023 was on foreign born workers

Take a look at past monthly highlights and other publications here

Alaska Department of Labor and Workforce Development – Alaska Economic Trends Magazine

Trends is a nonpartisan, data-driven magazine that covers a variety of economic topics in Alaska that is published monthly.

Does your state have a projections dashboard?

Share it with us! We’d love to see it and feature it in the monthly LMI Insider.

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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