Cape Cod 5 Quarter 2 Regional Meetings May 21, 2019 – Lower Cape May 30, 2019 – Upper Cape June 5, 2019 – Mid-Cape June 6, 2019 – Nantucket June 12, 2019 – Martha’s Vineyard June 13, 2019 – Southeastern Massachusetts
Agenda
Introduction and Welcome
Cape Cod 5’s Evolving Community Engagement
Economic Sustainability & Workforce Development
Cape Cod 5’s Impact
We want to hear from you!
Agenda
Introduction and Welcome
Cape Cod 5’s Evolving Community Engagement
Economic Sustainability & Workforce Development
Cape Cod 5’s Impact
We want to hear from you!
Cape Cod 5’s Evolving Community Engagement ENRICHING LIVES Tools, resources, information, advice products and services for each step in the life journeys of our customers, employees and community members.
Four Strategic Goals Financial Strength
Community
Trusted Financial Advisor
Employees
Five Ways of Engagement Responsible Business Practices
Community Banking
Advancement of Financial Know-How
Corporate Leadership and Volunteerism
Philanthropy
Community Engagement: Five Areas of Focus Five Ways of Engagement Responsible Business Practices
Community Banking
Advancement of Financial Know-How
Corporate Leadership and Volunteerism
Philanthropy
Goal: Community
Five Areas of Focus
Accessible Housing
Economic Sustainability
Education & Enrichment
Environmental Stewardship
Community Health, Human Need & Active Service Members’ / Veterans’ Needs
Agenda
Introduction and Welcome
Cape Cod 5’s Evolving Community Engagement
Economic Sustainability & Workforce Development National Trends | In Our State | Cape, Islands & SE Mass
Cape Cod 5’s Impact
We want to hear from you!
Agenda
Introduction and Welcome
Cape Cod 5’s Evolving Community Engagement
Economic Sustainability & Workforce Development National Trends | In Our State | Cape, Islands & SE Mass
Cape Cod 5’s Impact
We want to hear from you!
National Trends National Employment Rate – As of April 2019
8
National Trends National Employment Rate – As of May 2019
9
National Trends National Unemployment Rate – As of April 2019
3.6%
Seasonally Adjusted Source: Bureau of Of Labor Statistics
10
National Trends National Unemployment Rate – As of May 2019
3.6%
Seasonally Adjusted Source: Bureau of Of Labor Statistics
11
National Trends Level of U.S. Unemployment and Job Openings
Note: Seasonally Adjusted Source: Labor Department
National Trends “Official Unemployment Rate” vs. U-6 = 7.3% in April 2019
National Trends “Official Unemployment Rate” vs. U-6 = 7.1% in May 2019
National Trends Labor Shortage Causes
Job Growth Changes to Immigration
Decrease in Labor Participation Rate
Labor Shortage
National Trends Labor Shortage Causes
Job Growth Changes to Immigration
Decrease in Labor Force Participation Rate
• Strong economy • 263,000 jobs were added in April of 2019 • 75,000 jobs were added in May of 2019 • Professional and business services had the largest new job growth • Driven by new technologies • Critical thinking skills
Labor Shortage Source: U.S. Federal Bureau of Labor Statistics
National Trends Labor Shortage Causes
Job Growth Changes to Immigration
Decrease in Labor Force Participation Rate
Labor Shortage
National Trends Labor Shortage Causes Labor Force Participation Rate – April 2019
National Trends Labor Shortage Causes Labor Force Participation Rate – Remained 62.8% in May 2019
National Trends Labor Shortage Causes Decrease in Labor Participation Rate
• Demographic Changes – Baby Boomers Retiring
• Lasting Impact of Recession • Lack of Skills • Adoption of Technology and AI • Use of Opioids & Meds • Sick or Disabled
National Trends Labor Shortage Causes
Job Growth
Changes to Immigration
Decrease in Labor Force Participation Rate
Labor Shortage
National Trends Labor Shortage Causes Changes to Immigration
H1B visas
H2B visas
J1 visas
Agenda
Introduction and Welcome
Cape Cod 5’s Evolving Community Engagement
Economic Sustainability & Workforce Development National Trends | In Our State | Cape, Islands & SE MA
Cape Cod 5’s Impact
We want to hear from you!
In Our State Number of Employed Massachusetts Residents vs. Jobs
Agenda
Introduction and Welcome
Cape Cod 5’s Evolving Community Engagement
Economic Sustainability & Workforce Development National Trends | In Our State | On Cape Cod
Cape Cod 5’s Impact
We want to hear from you!
On Cape Cod Barnstable County Unemployment Rate
On Cape Cod Barnstable County 12 Month Percent Changes in Employment
On Cape Cod Cape Cod Workforce Challenges • Seasonality • Second Homes and Tourism
• • • • •
Concentration in Service Economy Demographics Cost of Housing Transportation Childcare
On Cape Cod Seasonality Unemployment Differences Between January and July 1990-2018
On Cape Cod Concentration of Economy in Service Sector The Region’s Largest Industries
Source: The Cape & Islands Regional Workforce Blueprint, 2018
On Cape Cod Demographics
Source: U.S. Census Bureau (www.statscapecod.com) Source: Data USA (https://datausa.io/profile/geo/barnstable-county-ma)
Source: U.S. Census Bureau, Dec. 2018 (www.towncharts.com)
On Cape Cod Median Household Income
On Cape Cod Housing and Transportation
From HAC study, “Housing on Cape Cod”
On Cape Cod Resources – Foreign Workers
On Cape Cod Resources - Education
•
• • •
Cape Tech High School
New 220,000 sf building Opening in 2020 Training for technical and trade positions in the region
• • • • •
Public vocational-technical high school located in Bourne, Massachusetts Opened in 1966, it serves over 720 students in 15 vocational areas of study. UCT recently responded to industry need with new HVAC building and program
Massachusetts Maritime Academy is a fully accredited, four year, coeducational state university offering Bachelor and Master of Science degrees that are highly regarded in the worldwide maritime industry and beyond. 1,700 undergraduate students Massachusetts Maritime Academy recently received $1M in grant funding to support development that stimulates the expansion and modernization of the maritime sector, and educational programs that increase participation in the blue economy.
On Cape Cod Resources
• • • • •
Employer Services Job Seeker Services Training Funds, Grants & Programs Youth Programs Mature Workers
• • • •
Adult Services Youth Services Business Services Dislocated Workers
On Cape Cod Resources
• A Vibrant Maritime and Technology Economy – – – –
Marine Science & Technology Renewable Energy Coastal Resiliency & Management Wastewater
• A Healthy Environment = A Healthy Economy • A Prepared and Educated Workforce
On Cape Cod Resources
Agenda
Introduction and Welcome
Cape Cod 5’s Evolving Community Engagement
Economic Sustainability & Workforce Development National Trends | In Our State | On Nantucket
Cape Cod 5’s Impact
We want to hear from you!
On Nantucket Nantucket County Unemployment Rate
On Nantucket Nantucket Workforce Challenges • Seasonality • Second Homes and Tourism • Difficulties in accurate population measuring
• • • • •
Concentration in Service Economy Demographics Cost of Housing Transportation Childcare
On Nantucket The Region’s Largest Industries
On Nantucket
On Nantucket Demographics Median Age
Source: Data USA (https://datausa.io/profile/geo/barnstable-county-ma)
On Nantucket Resources – Foreign Workers
On Nantucket Resources - Education
Nantucket High School Vocational Technology Department
• New 220,000 sf building • Opening in 2020 • Training for technical and trade positions in the region
• Vocational-technical programming, including hands-on projects and differentiated instruction in: – – – – –
Culinary arts Nursing Wood technology Automotive Technology Criminal Justice
On Nantucket Resources
Agenda
Introduction and Welcome
Cape Cod 5’s Evolving Community Engagement
Economic Sustainability & Workforce Development National Trends | In Our State | On Martha’s Vineyard
Cape Cod 5’s Impact
We want to hear from you!
On Martha’s Vineyard Martha’s Vineyard Unemployment Rate
On Martha’s Vineyard Martha’s Vineyard Workforce Challenges • Seasonality • Second Homes and Tourism
• • • • •
Concentration in Service Economy Demographics Cost of Housing Transportation Childcare
On Martha’s Vineyard Largest Industries on Martha’s Vineyard
On Martha’s Vineyard
On Martha’s Vineyard Demographics Median Age
Source: Data USA (https://datausa.io/profile/geo/barnstable-county-ma)
On Martha’s Vineyard Resources – Foreign Workers
On Martha’s Vineyard Resources - Education
• • •
New 220,000 sf building Opening in 2020 Training for technical and trade positions in the region
Martha’s Vineyard Regional High School Technical Program • •
• Massachusetts Maritime Academy •
• •
Fully accredited, four year, co-educational state university offering Bachelor and Master of Science degrees 1,700 undergraduate students Recently received $1M in grant funding to support – –
Expansion and modernization of the maritime sector Educational programs that increase participation in the blue economy
•
One of only 9 Comprehensive High School Programs in State Technical Education Training Program including problem solving, project-driven, competency based learning. Programs include: – Building Trades – Maritime Sciences – Culinary arts – Horticulture – Building Trades – Automotive Technology – Health Assisting MV Youth - $200,000 scholarships to students in non-traditional careers
On Martha’s Vineyard Resources
You’ve Got a Friend
Agenda
Introduction and Welcome
Cape Cod 5’s Evolving Community Engagement
Economic Sustainability & Workforce Development National Trends | In Our State | In Southeastern MA
Cape Cod 5’s Impact
We want to hear from you!
In Southeastern Massachusetts Southeastern Massachusetts Unemployment Rate
In Southeastern Massachusetts Southeastern Massachusetts Workforce Challenges • Demographics • Employment High in Vulnerable Industries • Cost of Housing – Impact on talent acquisition
• Out migration of workers to metro Boston • Childcare access and affordability • Infrastructure challenges – Water – Wastewater – Intra-regional transportation • Limits industry growth
In Southeastern Massachusetts Plymouth County’s Largest Industries by Jobs
In Southeastern Massachusetts
In Southeastern Massachusetts Demographics Median Age
Source: Data USA (https://datausa.io/profile/geo/barnstable-county-ma)
Source: UMass Donohue Institute - http://pep.donahue-institute.org/UMDI_LongTermPopulationProjectionsReport_2013.11.pdf
In Southeastern Massachusetts Resources
• • • • •
Employer Services Job Seeker Services Training Funds, Grants & Programs Youth Programs Mature Workers
• • • •
Adult Services Youth Services Business Services Dislocated Workers
In Southeastern Massachusetts Resources - Education
In Southeastern Massachusetts Resources
Pinehills Affordable Housing Charitable Trust, Inc.
Friends of the Wareham Veterans Council, Inc.
Business Strategies for Adapting Upskilling Hiring for Potential Recognizing Talent as Consumers Wages, Benefits, Flexibility Importance of Technology Source: HR Dive
Agenda
Introduction and Welcome
Cape Cod 5’s Evolving Community Engagement
Economic Sustainability & Workforce Development National Trends | In Our State | On Cape, Islands & in SE MA
Cape Cod 5’s Impact
We want to hear from you!
Community Engagement: Five Areas of Focus Five Ways of Engagement Responsible Business Practices
Community Banking
Advancement of Financial Know-How
Corporate Leadership and Volunteerism
Philanthropy
Goal: Community
Five Areas of Focus
Accessible Housing
Economic Sustainability
Education & Enrichment
Environmental Stewardship
Community Health, Human Need & Active Service Members’ / Veterans’ Needs
Community Banking Community Banking
Community Lending Partnerships Include:
Responsible Business Practices
Responsible Business Practices Responsible Business Practices
Tuition Reimbursement of $5,250 per employee
Responsible Business Practices Responsible Business Practices
Universal Banker
Corporate Leadership and Volunteerism
Corporate Leadership and Volunteerism (Including): Cape Cod
Nantucket Including:
Martha’s Vineyard
SE Mass
Cape Cod Young Professionals
Coastal Community Capital
Island Housing Trust
Boys & Girls Club -Plymouth
Cape Cod Community College
Egan Maritime Museum
Mass Hire Cape & Islands
Bridgewater State University
Cape & Islands Workforce Dev. Board
Fairwinds Counseling Center
MV Chamber
Canal Region Chamber
Cape Cod Blue Economy Foundation, Inc.
Habitat for Humanity Nantucket
MV Housing Development Corp.
Gleason Family YMCA
Cape Cod Economic Development, Inc.
Harvey Foundation
You’ve Got a Friend
Habitat for Humanity Greater Plymouth
WE CAN
Kenneth Donnell Trust
Youth Task Force
Old Colony YMCA – Plymouth
EforAll
Lema Machado Scholarship Committee
Pembroke Chamber
SCORE
Nantucket Anglers’ Club
SEED
Leadership Cape Cod
Nantucket Boys & Girls Club
South Coastal Counties Legal Services
Nantucket Capital Program Committee
Wareham High School DECA Boosters
Nantucket Community Garden Nantucket Cottage Hospital Nantucket Housing Palliative & Support Care of Nantucket
Advancement of Financial Know-How Advancement of Financial Know-How
Philanthropy
Philanthropy
Enriching Lives Tools, resources, information, advice products and services for each step in the life journeys of our customers, employees and community members.
Four Strategic Goals Financial Strength
Community
Trusted Financial Advisor
Employees
Five Ways of Engagement Responsible Business Practices
Community Banking
Advancement of Financial Know-How
Corporate Leadership and Volunteerism
Philanthropy
Agenda
Introduction and Welcome
Cape Cod 5’s Evolving Community Engagement
Economic Sustainability & Workforce Development National Trends | In Our State | On Cape, Islands & SE MA
Cape Cod 5’s Impact
We want to hear from you!
We want to hear from you!
Resources • • • • • • • • • • •
Adult and Community Education Martha’s Vineyard - https://www.acemv.org/ Cape Cod Commission - http://www.capecodcommission.org/ CCYP - https://capecodyoungprofessionals.org/ Coastal Community Capital - https://www.coastalcommunitycapital.org/ Community Foundation for Nantucket - https://cfnan.org/ E for All - https://eforall.org/ma/cape-cod/ Edgartown Board of Trade - http://edgartownboardoftrade.com/ Egan Maritime Institute - https://eganmaritime.org/ Island Housing Trust – http://www.ihtmv.org/ Martha’s Vineyard Chamber of Commerce - https://www.mvy.com/ Martha’s Vineyard Community Services – https://www.mvcommunityservices.org/
Resources (cont’d.) • • • • • • • • • •
Mass Hire Workforce Dev Board - https://masshire-capeandislandswb.com/ Mass Hire Career Opportunities - https://masshire-capeandislands.com/ Pinehills Affordable Housing Charitable Trust - https://www.pinehills.com/ Plymouth Area Chamber of Commerce - https://plymouthchamber.com/ ReMain Nantucket - https://remainnantucket.org/ SCORE Cape Cod & the Islands - https://capecod.score.org/ South Eastern Economic Development (SEED) Corporation - https://seedcorp.com/ South Shore Workforce Board - http://www.masshiresouthshorewb.com/ South Shore 2030 - https://www.southshore2030.com/ U.S. Small Business Administration- https://www.sba.gov