GNO, Inc. and Bank of America Release the Fifth Greater New Orleans Jobs Report
Today, Greater New Orleans, Inc. (GNO, Inc.) and Bank of America released the 2023 Greater New Orleans Jobs Report, which offers a thorough review of the region’s key occupations. This is the fifth installment in an annual series of reports that examines current and anticipated trends in employment across both established and emerging industries. The findings from this year’s report not only help policymakers and businesses understand the evolving economic landscape but also ensure that educational and training programs are aligned with the region’s employment needs.
“Greater New Orleans will experience a bright economic future by leveraging insights from key metrics such as those presented in this jobs report,” said Michael Hecht, President and CEO of Greater New Orleans, Inc. “The report’s new interactive format makes it easier to be analyzed, digested, and shared by the decision-makers who foster our workforce development landscape. We’re thankful for Bank of America’s partnership in developing such a critical tool for Greater New Orleans.”
The Greater New Orleans Jobs Report serves a critical role in the region, acting as a barometer for employment trends. It provides an in-depth analysis of the job market, identifying key areas of growth and potential challenges. By doing so, it plays a pivotal role in shaping a skilled workforce that can meet the demands of the ever-changing job market in Greater New Orleans.
“Bank of America remains committed to supporting economic growth and workforce development in the region,” said Jonathan Matessino, New Orleans/Baton Rouge President of Bank of America. “Through our continued partnership with GNO, Inc., we can enhance the education and training offerings to meet industry needs in Greater New Orleans, creating increased access to high-demand jobs for the community.”
The Greater New Orleans Jobs Report is focused on occupations that represent Top Jobs, ones that have at least 100 positions filled across the region, with a median hourly wage of at least $23.59 per hour, and experienced growth from 2013 – 2023. These roles also must be related to one of GNO, Inc.’s focus industry sectors (Advanced Manufacturing, Energy, Healthcare & Life Sciences, Technology & Digital Media, and Trade & Logistics). This year’s edition also includes On-ramp Jobs, or occupations that provide gateways to higher-wage, high-demand careers and maintain positive future growth prospects based on business development projects and economic conditions.
New to this year, the report made a significant shift from a printed booklet to a series of interactive dashboards for each of the industry sectors, each featuring filters for wages, entry-level education, and work experience required.
While the Jobs Report offers a comprehensive look at the state of the job market, four takeaways can be extrapolated from the 2023 Greater New Orleans Jobs Report:
- The need to balance near-term workforce needs with investment in programs for medium- and long-term demands created by transformational shifts in Advanced Manufacturing, Digital Media & IT, and Energy sectors
- The region must continue to prioritize economic mobility initiatives to ensure opportunities are available – and achievable – for all residents
- Efforts across the workforce ecosystem should be coordinated to ensure seamless pathways from career awareness to career exposure to career training
- There is a demand to develop an “all-of-the-above” strategy for traditional and non-traditional career preparation pathways, a significant proportion of which require an Associate’s degree or less
Over the next year, GNO, Inc. will use these findings across stakeholder groups to inform public policy strategies and the endorsement of creating educational and training offerings. This data will also be used in business attraction initiatives, demonstrating labor trends in the market and showcasing the responsiveness of regional education leaders. Finally, the report will help inform the development of workforce programs deployed through private philanthropy support in the region.
Read the full report here.