New Jobs Forecast Released

Seattle- One of the biggest challenges coming out of the recession continues to be a shortage of skilled workers for the growing number of information technology and business services jobs here.

That’s among the findings in the latest Talent Pipeline Study just released by the Workforce Development Council of Seattle–King County.  It projects a surplus of more than 3,600 jobs a year in IT and nearly 5,000 annually in business services between 2014 and 2019.

The report sees job demand outpacing labor supply in finance and insurance too. All three job sectors are forecast to have annual shortages of 9,185 workers, or more than 27,000 during the five-year period.

“That’s where we come in,” said Marléna Sessions, chief executive officer of the Workforce Development Council.  “Our Pipeline Talent Studies are powerful guides as we make job training investments to ensure workers have the skills employers need so both thrive in the post recession era.”

The WDC oversees federal job training funds in King County and will use the findings to direct those dollars into training programs for jobs in high demand. The unique research estimates future job growth and the supply of skilled workers to fill those positions. 

Other key findings:

  • Business services will have the largest need, with a projected average annual shortage of 4,887 candidates in areas such as accounting, auditing and customer service.
  • IT is bracing for a yearly shortfall of 3,631 workers, mostly software engineers and computer support specialists.
  • While much of the IT demand is in jobs requiring vocational or associate degrees, many businesses say they will only hire those with a bachelor’s.
  • Finance and insurance expects a shortage of 667 positions a year.

The WDC’s first Talent Pipeline Study, issued last summer, projected more than 19,000 new jobs in healthcare, manufacturing and transportation over the same five year period.

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The Workforce Development Council of Seattle-King County (www.seakingwdc.org) is a nonprofit workforce “think tank” and grant-making organization that oversees employment-related programs for youth, the adult workforce and employers in King County, with the goal of a strong economy and self-sufficiency for every resident.

 
 

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