QUARTERLY LABOR MARKET REPORT OAKLAND COUNTY Q1 2015
SUMMARY OAKLAND COUNTY Q1 2015 DEMAND OVERVIEW Oakland County has a strong labor market relative to the WIN region as a whole. During 2014 employment averaged 556,653 individuals with an available labor force of 599,640. October 2014 marked a high point in employment with 564,963 individuals in jobs. Oakland County’s labor force levels have been slowly rising since a recession low in 2011. Employment growth has been more rapid resulting in a lower unemployment rate of 7.2% in 2014. Between 2013 and 2014 employment grew and the unemployment rate dropped from an average of 8.5% to 7.2%. Software developers remains the most in-demand occupation in Oakland County for the sixth consecutive quarter. Postings for this occupation increased by 1,054 to 1,967 in Q1 2015, up from 913 in Q4 2014. Software developers more than double the next most posted occupation, sales representatives for wholesale and manufacturing products (919 postings). Other top occupations in Oakland County are retail salespersons (865 postings) and registered nurses (856 postings). Total online job postings in Oakland County grew from 26,397 in Q4 2014 to 33,829 in Q1 2015, a 28% increase. This increase supersedes three consecutive quarters of decline in postings. This is the highest recorded number of job postings since online posting data has been collected (Q1 2011). The clusters analyzed by WIN in Oakland County represent 59% of all online job postings in the county. *This report includes top jobs and postings over time highlights for clusters that have made major shifts or movements in the past quarter. The data is updated each quarter based on the clusters with the most noteworthy changes. For complete top jobs lists, educational attainment, and wage information, please see the regional reports or contact WIN's Research Director Colby Cesaro at colby.cesaro@win-semich.org.
TOP JOBS Q1 2015
ANALYSIS Software developers remains the most indemand occupation in Oakland County for the sixth consecutive quarter . Postings for this occupation increased by 1,054 (115%) to 1,967 in Q1 2015, up from 913 in Q4 2014. Software developers outpace the next most posted occupation by more than double, sales representatives for wholesale and manufacturing products (919 postings). Other top occupations in Oakland County are retail salespersons (865 postings) and registered nurses (856 postings). 2
HIGHLIGHTS IT POSTINGS OVER TIME
ANALYSIS Following three consecutive quarters of decline, IT postings in Oakland County increased tremendously in Q1 2015. Online job ads for this cluster increased to 6,012 for this quarter, up from 3,505 in Q4 2014. This is the highest recorded number of job postings related to IT occupations since online posting data has been collected (Q1 2011). Not only is it the highest number of postings to-date but it outpaces the next high peak (5,035 postings in Q2 2012) by nearly 1,000. Like most of the WIN region, Oakland County is experiencing substantial demand growth for IT occupations.
ENGINEER AND DESIGNER POSTINGS OVER TIME
ANALYSIS Since Q3 2013 postings for Engineers in Oakland County have been relatively stable around 2,500 per quarter. Q 1 2015, however, saw online job ads increase by 54% to 3,364, up from 2,177 postings in Q4 2014 . Postings for engineers typically increase in Oakland County between Q4 and Q1 but online ads have not been above 3,000 since Q2 2012. This is the highest recorded number of job postings related to engineering and design occupations since online posting data has been collected by WIN (Q1 2011).
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LABOR MARKET OVERVIEW EMPLOYMENT & LABOR FORCE
ANALYSIS Oakland County has a strong labor market relative to the WIN region as a whole. During 2014 employment averaged 556,653 individuals with an available labor force of 599,640. October 2014 marked a high point in employment with 564,963 individuals in jobs. Oakland County’s labor force levels have been slowly rising since a recession low in 2011. Employment growth has been more rapid resulting in an unemployment rate of 7.2% in 2014. Between 2013 and 2014 employment grew and the unemployment rate dropped from an average of 8.5% to 7.2%. If these trends continue in 2015, Oakland County’s labor force should continue to grow strength.
TOTAL POSTINGS OVER TIME
ANALYSIS Total online job postings in Oakland County grew from 26,397 in Q4 2014 to 33,829 in Q1 2015, a 28% increase. This increase supersedes three consecutive quarters of decline in postings. Growth in postings was felt across sectors as nearly every occupational group saw an increase in employer demand. This is the highest recorded number of job postings since online posting data has been collected (Q1 2011).
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POSTING TRENDS BY CLUSTER
ANALYSIS Postings in Oakland County increased between Q4 2014 and Q1 2015 in every cluster analyzed by WIN with 80% of total growth in postings in the county occurring in WIN’s occupational clusters. Posting growth was greatest for IT occupations and least for skilled trades. IT is quickly becoming one of the strongest clusters in the area, representing 17.8% of online job ads, up over 4 percentage points from 13.3% in Q4 2014. Following several quarters of marginal growth, health care postings increased by nearly 50% over the previous quarter. Despite retail & hospitality’s postings improving by nearly 1,000, total share of online ads actually decreased for the cluster by 1.7 percentage points in Q1 2015. Nonetheless, retail & hospitality remains an important cluster to the region as it represents 19% of total online postings. The clusters analyzed by WIN in Oakland County represent 59% of all online job postings in the county.
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TOP JOBS BY CLUSTER ENGINEER & DESIGNER TOP JOBS
ANALYSIS Mechanical engineers remain the most in-demand engineering occupation in Oakland County with 765 postings in Q1 2015. Other top engineering occupations include Electrical engineers (656 postings) and commercial and industrial designers (383 postings). Online job ads for manufacturing engineers (6th in postings) more than doubled between Q4 2014 and Q1 2015.
SKILLED TRADE & TECHNICIAN TOP JOBS
ANALYSIS First-line supervisors of production and operating workers maintains the top position for skilled trades in Q1 2015 with 144 online postings. Close behind are CNC Machinists with 131 postings. In third are inspectors, tester, sorters, samplers, and weighers with 103 postings. Postings for welders more than doubled between Q4 2014 and Q1 2015.
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TOP JOBS BY CLUSTER HEALTH CARE TOP JOBS
ANALYSIS Continuing the general trend around the region, registered nurses occupy the top spot in health care occupations in Oakland County for Q1 2015. The number of postings for nurses is three and a half times greater than the next top occupation, nursing assistants (237 ads). Postings for physical therapists actually decreased by ten, moving this occupation down from second last quarter to fifth this quarter. This drop in postings could mean that an employer was able to fill the previously posted positions.
IT TOP JOBS
ANALYSIS Software developers claim the top spot in IT postings this quarter once again. The 1,967 postings for Q1 2015 more than double Q4 2014’s 913 postings. This could signal that many new positions are opening in the region and/or employers are having a difficult time finding the talent they need. Other top jobs include computer systems analysts (572 postings) and business intelligence analysts (449 postings).
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