The provision of labor market information is one of the many business services available to employers through the local workforce system in Southwest Missouri. Oftentimes businesses are in search of wage information in an effort to remain competitive and ensure their recruiting is effective. The Workforce Investment Board is able to provide detailed and timely data on both entry-level and experienced wages, as well as a variety of other elements by municipality, county, drive-times, and more.
One data element that has recently become available is turnover, and the ability to examine it by industry and other elements. While the data is not as recent as would be desired, it does offer some insight into the local labor market and job churn. The figures below detail local labor turnover in Southwest Missouri by industry, age, and education level from the 2nd quarter of 2015 to the 2nd quarter of 2016.
Industries with the highest turnover rates included Administrative Support & Waste Management/Remediation (22.9%), Accommodation & Food Services (19.4%), Retail Trade (11.9%), and Construction (10.2%). The lowest rates were in the industries of Educational Services (5.6%), Public Administration (5.8%), and Finance & Insurance (6.7%).
As far as age, individuals aged 14-18 held the highest turnover rate (29.0%), followed by ages 19-21 (22.7%), 22-24 (18.0%), and 25-34 (11.7%). The lowest rates were held by those aged 55-64 (5.3%), 45-54 (6.2%), 65+ (7.3), and 35-44 (8.1%).
As far as educational attainment, those for whom data was unavailable (those aged 24 or younger) held the highest turnover rate (21.7%). Individuals with less than a high school diploma (9.4%), those with a high school equivalency (7.7%), those with some college or an associate’s degree (7.6%), and those with a bachelor’s or advanced degree (6.9%) all had rates below the overall 9.5% rate.
For more information, contact Sherri Rhuems.