Dashboard Indicators Center Panel Introductions

There are a number of ways to measure the degree to which agency activities mesh with Texas economic performance; including penetration measures of TWC activity by industry sector. This module captures several alternative measures of the degree to which Agency services relate to the Texas labor market. Since the Texas Workforce Network represents a non-random microcosm of the Texas labor market, these indicators have limitations -- and in some cases multiple interpretations. A caveat on these limitations is also provided and should be read before using any of these dashboard indicators for policy decision-making.

There are eight (8) dashboard indicators covered in this module, all parsed by NAICS code industry. Each indicator includes an explanation of why it is potentially significant and how to interpret the rate displayed.

1. new hires as a percent of industry employment
2. applicants as a percent of industry employment
3. claimants as a percent of industry employment
4. job openings as a percent of industry employment
5. claimants as a percent of applicants
6. applicants as a percent of job openings received
7. job openings received as a percent of new hires
8. claimants as a percent of new hires

They take advantage of monthly data flows for the following core TWC variables: new hires (Texas Attorney Generals Office mandatory new hire reporting system), UI claimants from the TWC/LMCI PROMIS system developed by the Bureau of labor Statistics, TWC Network job applicants and job openings received from the WorkInTexas database, and industry employment from the Quarterly Census of Wages and Employment from TWC/LMCI.

These data are best used as indicators of TWC Network involvement in the labor exchange arena and not as performance measures. It is recommended that these indicators be examined in the context of the labor market as a whole, including the movements of macroeconomic indicators such as the unemployment rate, total job growth and industry sector growth, before any conclusions are drawn.

Each of the indicators presented has strengths and weaknesses as a proxy for Network penetration or engagement in a given industry. Many of these indicators exhibit seasonal variation that has yet to be chronicled. Some of these indicators will rise and fall regardless of changes in agency involvement. The labor market will fluctuate through the processes of natural job destruction and creation and certain industries will expand or contract due to global forces that are complex, multi-faceted, and difficult at best to parse out. Spectacular Agency performance could easily be denigrated by unexpected changes or movements of greater magnitude in the economy. These data are most useful as a means to develop an informed employer contact strategy -- at which point pertinent employer-specific, employer-provided information will dictate further action.