Indiana Studies Supply/Demand
The Indiana Career Council recently unveiled its first statewide analysis of occupational supply and demand data.
The report comes on the heels of increased interest in the ability of states to compare their workers' credentials to occupational demand to identify skills gaps.
Issued by the Indiana Career Council and conducted by the FutureWorks consulting firm, the analysis is detailed by industry sector and will be used to create regional workforce policies that align with ICC’s strategic plan.
Indiana should consider increasing capacity to produce talent in high wage, technical fields to meet current and future demand, according to the report. It showed a mismatch in current employment demand in several industry sectors (e.g. manufacturing and healthcare) compared to the current number of students engaged in postsecondary education or career and technical training in these areas.
Indiana’s supply and demand report aligns with WDQC’s promotion of skills gap analyses to ensure that individuals are being prepared for jobs that need more skilled workers.
The state reported strong results in Mastering the Blueprint: State Progress on Workforce Data, a WDQC publication which highlighted the numerous efforts being undertaken by states to use and link workforce data. As part of the self-reported survey, Indiana rated itself as having "achieved/mostly achieved" initiation of skills gap analyses, by using expanded student reporting, labor market information and industry feedback to assess alignments between education/workforce programs and labor market demand.
Other states have been at the forefront of issuing supply and demand reports, including Colorado and Washington. Both states compare current annual supply data to the most recent 10-year Bureau of Labor Statistics Occupational Outlook forecast for their state. Earlier this year, National Skills Coalition, a WDQC partner, published a report that examines a way that states can measure gaps in the number of newly trained workers.