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Workforce and Economic Data Available at SWOSU CEBD
August 25, 2006
Current conditions of local business and labor markets are now available for local communities and business leaders through the Center for Economic and Business Development (CEBD) at Southwestern Oklahoma State University in Weatherford.
The information, which is available on the CEBD’s website at http://www.swosu.edu/cebd/business-market.htm, includes jobs in demand and supply, average wage rates, industry sales, new jobs, changes in jobs, and job projections through 2010.
The information, updated bi-annually with data that is only six months old, focuses on three main sections: Economic Forecaster, Career Pathways, and Economic Impact. The Economic Forecaster and Career Pathways projections consist of the six regions of Oklahoma, and also the counties included in the Southwestern Oklahoma Impact Coalition (SOIC). The Economic Impact section is comprised of the regions in southwest Oklahoma, the Oklahoma City Metro area, the SOIC region, and the State of Oklahoma.
Fui Phang, senior research analyst, said the Economic Forecaster provides current and projected growth or decline of over 400 industries classified by the North American Industry Classification System (NAICS). It gives the current and projected growth and decline of numerous occupations and provides average earnings. The Economic Forecaster also provides age, gender and ethnicity of the population projected to 2010.
Career Pathways determines the supply of available workers in a region and the corresponding jobs in demand. The O*NET Compatibility Index measures the similarity of skills between a worker and the available occupation, which provides crucial information regarding a region’s ability to meet the needs of its developing industries.
The Economic Impact section provides a quantifiable and economically sound method for determining the relative impact of proposed or impending changes to a regional economy. It allows users to discover which sectors of the local region actually drive the economy.
Phang said the data provided can be used for a variety of purposes. For example, the data can be used as an aide in decisions concerning job market opportunities, identifying relative strength and weaknesses of an area’s business segment, etc. This information, in turn, will facilitate job seekers, regional developers and community leaders to capitalize on areas of opportunity.
For further information, please contact the Center for Economic and Business Development at (580) 774-3095 or visit http://www.swosu.edu/cebd/business-market.htm