The Aspen Institute, an educational and policy studies organization based in Washington, D.C., mentioned EMSI as a leading source of labor market data in a recent report aimed at US community colleges. The Aspen Institute’s College Excellence Program recently released a guide to labor market data intended for community colleges.
The report gives a brief and helpful overview of how important labor market data can be for community colleges, and the various ways in which that data can be used. In explaining the importance of data, the report cites numerous first-hand examples from colleges that have used it effectively to optimize their strategies. For example, Todd Oldham from Monroe Community College, in Rochester, New York, (an EMSI client) explains that labor market data has helped Monroe close unprofitable training programs. He also reports that Monroe has used labor market data (from EMSI’s Career Coach tool) to direct students towards overlooked employment opportunities.
The Aspen Institute report also discusses sources from which colleges can obtain data. Under “Other Private Labor Market Data Providers,” it reports:
There are a number of proprietary labor market data providers that offer data-based tools and customized services. The best known is Economic Modeling Specialists Intl. (EMSI), which regularly combines data from federal, state, and private sources in a database from which it pulls information relevant to local labor markets. Among other tools, EMSI has developed data analytic systems based on local labor market information and software colleges can use to provide students with customized regional wage information, including number of projected jobs, employment trends by occupation, and job postings.
We’ve mentioned the Aspen Institute on the blog before, when we were happy to see that four of the five community colleges awarded the 2012 Aspen Prize for Community College Excellence use EMSI’s labor market data to strengthen their program offerings and inform their students’ career decisions.
See the full report here (PDF) or below.
EMSI data is supplied through two web-based tools: Analyst, a labor market research tool, and Career Coach, which helps colleges market their programs to students. EMSI also has conducted more than 1,200 economic impact studies to colleges in the US, UK, Canada, and Australia. Email Rob Sentz for more.