Conference Shows Off Midwest Dashboards
Regional economic dashboards for workforce stakeholders were on the agenda during the Council for Community and Economic Research (C2ER) and Labor Market Information (LMI) Institute conference recently held in Minneapolis. Many agencies and institutions are now producing easy-to-access information on key workforce indicators. Here are just a few that were featured during the conference.
In order to quickly convey critical information to business and community leaders, the Greater MSP – Minneapolis St. Paul Regional Economic Development Partnership devised a Regional Indicator Dashboard. Job quality, talent availability, talent pipeline, and shared prosperity are among the indicators that are set on a static PDF display. The actual values are presented for figures such as average annual earnings and percent of population in poverty, and the dashboard also ranks the region’s standing on a scale of 1 (best) to 12 (worst) against peer regions that include the likes of Denver, Seattle, and Chicago. The dashboard will be updated annually.
The Indiana Business Research Center (IBRC) is building upon their Stats America Innovation Index, which allows leaders and analysts to compare innovation capacity by region and county across the United States. Conference attendees were treated to a preview of Innovation Index 2.0, which IBRC will release later this summer. The upgrade will include new variables such as the talent flow of STEM workers and information on social capital. Also highlighted was Indiana’s Workforce Economy Dashboard, which provides quick glance indicators on trends in manufacturing jobs and employment rates, with options for viewing corresponding interactive graphs. The indicators are updated monthly or quarterly, or as often as data become available.
In a separate session, Minnesota’s Department of Employment and Economic Development shared its Graduate Employment Outcomes tool, which is featured in a WDQC video and mentioned in our new infographic on “Student Right to Know” state legislation.
For more information on the conference, visit C2ER’s event webpage.