Report shows job growth, challenges in New Orleans area
New Orleans City Business | October 31, 2019
Although many higher-wage occupations in New Orleans have seen more growth when compared to the rest of the region, the metro area faces challenges related to the impending retirement of its workforce, and significant minority and gender gaps still exist.
Those are among the highlights in the inaugural Greater New Orleans Jobs Report, released Thursday by Greater New Orleans, Inc. and Bank of America Merrill Lynch. It aims to provide research and data to inform workforce development investments, policies, and programming, as well as initiatives to recruit and retain talent.
The report looks at 54 occupations and their trajectories since 2008. The 77,355 jobs represent 12% of all jobs in the region, the release said.
The report says that over the past decade, the occupations have grown by 21%, while the region as a whole has grown 4.5% and nationally, jobs have grown by 7.3%. The jobs have median hourly earnings of nearly $40, or $62,192 annually.
Although minorities make up 42% of the region’s workforce, they only account for 32% of the jobs analyzed in the report.
Women account for 52% of all jobs that were analyzed, compared to males at 48%. However, all but 11 occupations have a gender disparity of 60:40, and 10 of the occupations have gender disparities of 90:10 or greater, the report said.
Nearly 23% of all jobs in the report are occupied by workers 55 years or older, compared to 22% of all jobs in the region.
“The impending retirement boom in these occupations is one of the most immediate needs that must be addressed to ensure these occupations are able to continue their growth trajectory,” the release said.
GNO Inc. says it will incorporate some recommendations into its workforce development program, GNOu.
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