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21st Century Workforce and Talent

Our economic development efforts need to focus on both jobs that keep families out of poverty and those that create higher incomes to drive economic prosperity.

10th

 Louisville ranks 10th out of 15 among peer cities for median wage, adjusted for cost of living.

In order to improve Louisville’s economy and move our economy ahead of our peers, we should consider economic development strategies that develop and attract jobs requiring higher levels of education.

Median wage, adjusted for cost of living

Fig21-2004

 

 

Source: BLS Occupational Employment Statistics, May 2013

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4th

Among our peers we rank 4th for jobs that pay above a living wage.

Using MIT’s living wage calculator, Jefferson County’s Cost of Living for a family of four (not considering childcare costs) is $36,795. We see that the median wage in Louisville is below this number, indicating that, by definition, more than half of our jobs pay below a living wage. In fact, only 4 in 10 jobs in our MSA pay a living wage. However, when we compare Louisville with our peer cities, we rank 4th of 15 in percentage of jobs paying a living wage.

Percentage of jobs paying above a living wage

Fig22-2004

 

Source: Wage and jobs data are from EMSI Analyst, Living Wage data are from MIT Living Wage Calculator bowed on the core county of each MSA.

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10th

More than half of job postings in Louisville are for positions paying above a living wage.

While we rank 10 of 17 among our peers in job postings, 53% of current job openings in our MSA pay above a living wage. This indicates that we might be shifting toward a higher-wage economy, but we are not keeping pace with our peers, who have more job openings paying higher wages.

Percentage of job postings above living wage

Fig24-2004

 

Source:  EMI Analyst and Burning Glass

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11th

Louisville ranks 11th in % of workers employed in technical and professional jobs.

Graduating more students who are college/career ready means a better prepared workforce because more students can begin college or other training programs.

Fig25-2004

Source: Source: 2013 ACS3-year estimates

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10th

Louisville ranks 10th for Unemployment.

Unemployment is the percentage of the civilian labor force, age 16 and older, that is unemployed but seeking work.

 

Unemployment

Fig87-2004

 

Source: County Health Rankings

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Sources

Data provided by KentuckianaWorks; BLS Occupational Employment Statistics, May 2013; MIT’s living wage calculator; Wage and jobs data are from EMSI Analyst, Living Wage data are from MIT Living Wage Calculator based on core county of each MSA; Wage and jobs data are from EMSI Analyst, Living Wage data are from MIT Living Wage Calculator based on core county of each MSA; Burning Glass; EMSI Analyst and Burning Glass