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AT A GLANCE
1.2 % increase
From 2017 to 2022 , the number of jobs in our region increased by 1.2 %.
64.3 % to 63.1 %
From 2017 to 2022 , our labor force participation rate decreased from 64.3 to 63.1
3.2 %
Unemployment Rate May 2023
20 %+
More than 20 % of our workforce is 55 or older , meaning these individuals will be retiring and leaving the workforce .
Job-posting analytics from Lightcast , an organization that gathers information about jobs , job skills and supply and demand , also indicate nearly 3,500 unique jobs postings for the region in May 2023 .
We have a significant number of job openings , but a limited number of individuals seeking employment . There is also a disconnect between the skills , abilities , and experience of the job seekers and the available openings . In addition , more than 20 % of our workforce is 55 or older meaning these individuals will be retiring and leaving the workforce .
These factors : low unemployment , increasing number of jobs , decreasing labor participation rate , and aging workforce are all contributing to our challenge of meeting the current and future needs of businesses for a skilled workforce .
As a region we need to increase our workforce through engaging and developing individuals not currently in the workforce , retaining recent graduates , and attracting new workers to our communities .
Southern Indiana Works and our partners in economic development , education , and social services are working together to address these challenges . There is not one solution to address the challenges , but rather multiple approaches through various angles to address the challenges we are facing and will face in the coming years .
It also cannot be done alone , but requires coordinated effort with our Board of Directors and local partners who are also leading efforts we are supporting . Southern Indiana Works has four priorities : Economic Development , Next-Gen Talent , Customer Centric , and Talent Development .
Within the Economic Development priority , we are partnering with economic development organizations , such as One Southern Indiana , to support talent attraction , expansion , and retention efforts . With the Next-Gen Talent priority , we are working with high school students in the Jobs For America ’ s Graduates program , coordinating summer work experiences through SummerWorks , providing a career exploration tool on our website , and supporting youth in education and training programs .
Our customer-centric priority focuses on ensuring our services provided through our WorkOne Career Center are customer-focused .
Within Talent Development , we are focused on ensuring our customers have the skills , education , and credentials to meet the current and future needs of industries . We want customers to have a path for family-sustaining employment and career opportunities . In addition to career services and training , we are focused on increasing the available labor pool .
We know that some populations in our communities have lower participation rates and are being left behind . Based on data , we are focused on serving individuals with disabilities , justice-involved individuals , and immigrants to ensure they have the skills and support necessary to access and succeed in local employment opportunities and career paths .
Individuals with a disability are half as likely to be in the labor force . More than a quarter of prime working-age Hoosiers cite disability or illness as their reason for not participating in the labor force . Previously incarcerated individuals face significant barriers to employment . In the first full calendar year after their release , only 55 % of those previously incarcerated have any reported earnings and the median earnings of those that do are just above $ 10,000 .
Through our two-prong approach we are providing employers support and resources to hire , train , and retain individuals from these populations . Our approach simultaneously serves these targeted populations and local businesses .
We launched a website : www . soinaccess . com and employer network that provides resources and supports for employers interested in hiring individuals with disabilities , justice-involved , or immigrants .
By joining the SoInAccess employer network , employers gain access to resources that will provide insights into best practices on how a company or organization can become an inclusive employer . These resources include direct access to the Southern Indiana Works Business Consultant that is dedicated to the management of the SoInAccess initiative . Employers are matched with quality candidates that have been vetted by local community partners , receive assistance with filing for Work Opportunity Tax Credits , Federal Bonding Program , plus exclusive invitations to participate in free job fair events and facilitated round tables focused on the recruitment and retention of underrepresented populations .
If we do not increase our workforce , we will not be able to meet local business needs . Local businesses will be unable to expand or be retained in our region if they do not have the talent needed to produce their goods and services .
Quality of life will suffer as well if we do not have talent for public services , education , health care , retail and beyond . Ensuring a skilled workforce is essential for our community , economy , and quality of life .
6 2023 snapshot | a special publication of the News and Tribune