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LAEDC’s Business Outlook Labor Demand (BOLD) Program

By June 15, 2017 2 Comments

Preparing L.A. for the Future of Work

As the information age, artificial intelligence and automation continue to usher in unprecedented economic, industrial and labor market transformations, the LAEDC and City of Los Angeles are working in collaboration to anticipate and respond to these dramatic changes. While the L.A. regional economy is expected to add approximately 346,000 new jobs from 2015 to 2020, many of these future occupations will require workers to get advanced skills training to successfully manage the new levels of technical specialization that will be demanded by these future occupations.

In partnership with the Los Angeles Workforce Development Board, the LAEDC is introducing the BOLD Program to address these “lifeblood” labor supply challenges, and in so doing, to provide greater economic opportunity and regional prosperity for more of Los Angeles’s communities and residents. Most immediately, the BOLD Program will provide workforce boards and intermediaries with first-hand, primary industry and labor market intelligence. Through its day-to-day interactions and work with businesses, the LAEDC’s BOLD team will gain, assemble and transmit a deep “real-world” understanding of the workforce needs and essential skills required for WDB-targeted industry sectors and businesses.

Next, the LAEDC and the WDB will work together to connect unemployed, underemployed and “hard to employ” jobseekers within regionally concentrated and growing industry sectors, and to provide sustainable employment pathways for low- and middle-skill workers of the region. Under its multi-pronged approach, the BOLD Program will be divided into six distinct phases, which range from the identification of private-sector businesses in targeted industry sectors to the development and maintenance of ongoing business/workforce client relationships.

But it doesn’t stop there.

That’s because the BOLD team also strives to be a catalyst for regional talent development “systems change” that more effectively aligns, refines and deploys regional workforce training and placement programs for the industries and economy of the future, envisioning a regional, industry-responsive and demand-driven talent development system that is:

  • Future forward, so that we’re developing the region’s supply of talent for the economy of the tomorrow, not of yesterday;
  • Adaptive, so that we’re responding to the ever-changing labor needs of the industries in which our region has productive advantages in real-time, especially as the momentum of labor market change [outside of our talent systems and institutions] accelerates;
  • Scalable, so that we’re activating analytically-based change across all our systems, from the social enterprise nonprofits, to the workforce boards, to our community colleges, all the way through our CSU and other four-year colleges; and
  • Total and complete, so that there is functional integration across all of our region’s talent development systems and institutions.

The BOLD team is composed of eight multi-lingual economic and workforce development professionals with a combined total of more than 110 years of related experience. The team’s consistent professional development and involvement in the public, private and non-profit sectors thoroughly demonstrates its capacity to provide in-depth solution-driven approaches to the changes of the rapidly evolving economy.

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