Evaluating program effectiveness requires more than looking at internal institutional data. While enrollment, completion, assessment, and other academic measures provide important context, labor market insights can offer another perspective: how programs align with workforce conditions in the regions they serve. Course evaluation data can provide another source of student feedback to consider alongside these measures.
For institutional effectiveness (IE) and institutional research (IR) teams, labor market insights can add external context to program review and inform conversations about curriculum, outcomes, and institutional priorities.
What are labor market insights?
Labor market insights are data points that help institutions understand employment conditions, workforce trends, and the relationship between education and the workforce. These may include employment conditions, job postings, occupations, industries, compensation, population, and labor force trends.
When incorporated into program review, these insights can help teams understand how programs connect to the communities and labor markets they serve.
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Why labor market data matters for program evaluation
Labor market data can provide external context for evaluating program effectiveness. For example, teams might examine job posting trends, regional job trends, and compensation data alongside enrollment, completion, and assessment measures.
Rather than replacing institutional data, labor market information can complement it. Bringing multiple sources of evidence together can give stakeholders a more complete picture when reviewing programs and identifying areas for further investigation.modern faculty review processes can improve both the faculty experience and institutional effectiveness.
7 Labor market insights IE & IR teams can use
1. Regional employment trends
Employment trends can help teams understand how industries and occupations are changing within a specific geographic area. Comparing trends over time can provide useful context for program review discussions.
2. Job posting trends
Job posting data can provide a snapshot of employer activity for specific occupations or regions. Teams can use these trends to examine potential connections between academic programs and workforce opportunities.
3. Regional compensation trends
Compensation data can provide additional context around occupations associated with academic programs. Reviewing regional compensation trends can help teams better understand workforce conditions.
4. Top industries and occupations
Understanding which industries and occupations are prominent in a region can help institutions examine how academic offerings relate to the local workforce landscape and inform conversations about program relevance.
5. Workforce and population trends
Changes in regional population, labor force participation, and labor force trends can provide context for program planning and help institutions understand the environment in which their programs operate.
6. Degree completion and competitive landscape data
Looking at degree completion data across institutions can provide insight into the broader educational landscape. Teams can examine how similar programs are represented in a region and consider those findings during program review.
7. Regional unemployment trends
Regional unemployment data can provide additional context about workforce conditions. Considering unemployment alongside employment, population, and labor force trends can help teams develop a more complete view of the regional market.
How to apply labor market insights to program review
Labor market data is most useful when considered alongside other sources of institutional evidence. Start by identifying the questions a program review is intended to answer, then select relevant labor market measures to provide external context.
For example, teams might examine job posting trends, employment trends, and compensation data alongside enrollment, completion, and assessment measures. These findings can then inform conversations with academic leaders and faculty and become part of a broader program review process.
Using labor market data to inform program decisions
Labor market insights can give IE and IR teams another lens for understanding program effectiveness and the environment surrounding academic offerings. When combined with institutional data and faculty expertise, they can help stakeholders identify trends, ask informed questions, and support program review discussions with a broader body of evidence.
TheMarket Landscape Data Pack, powered by Lightcast, brings labor market and demographic insights into Watermark Planning & Self-Study, helping institutions incorporate external data into their program review process.
Explore the Market Landscape Data Pack add-on for Watermark Planning & Self-Study to see how labor market insights can support program review.
