You've likely heard the term:
"The Labor Market"
But what does that mean exactly?
To put it simply, the labor market is the ever-changing balance between the supply and demand for employment. In other words, how many people are looking for jobs vs. how many jobs are available.
The labor market is important because this information helps us understand the big picture, including the challenges job seekers and employers are facing, what opportunities are currently available, which industries are growing, and how barriers affect a person's job search.
Featured Occupation of the Month
Banking - Member Advocate/Teller
Serve as a resource and educator for members and an ambassador of the financial institution. Find opportunities to build relationships with members and help them reach their financial goals. Perform a variety of services for our members, including teller transactions and administrative functions, account opening, account maintenance, and identifying and matching member needs to our products and services.
Knowledge, Skills, and Abilities:
- Ability to solve problems.
- Knowledge of all products and services offered by the credit union.
- Efficient computer skills including the Microsoft suite.
- Excellent written and verbal communication.
- Cash handling skills.
- Ability to learn and adhere to all policies and procedures.
- Expert in creating amazing experiences and building relationships.
The banking industry teller member advocate role involves supporting and advocating for the teller
community within the industry. Advancement in this role can lead to higher positions, better pay,
and increased responsibilities. Here are some key points for tellers looking to advance in this role:
Skill Development: Continuous learning and development are essential for tellers to stay
competitive in the financial industry. This includes staying updated on banking regulations,
technological advancements, and customer expectations.
Career Growth: Career growth can lead to roles such as personal banker, loan officer, or branch
manager, each with added responsibilities and opportunities for advancement.
Professional Recognition: Recognition and rewards for tellers' performance and contributions can
boost morale and motivation, making them more likely to advocate for their peers and the industry.
If you’re interested in exploring a member advocate role as part of the banking industry, be sure to let your FSET Case Manager know. They can help with resume and skills development as well as helping you find the right opportunity that works with your preferences, needs, and experience. Don’t forget to ask about additional education and training that can help you build the skills you need to be successful and advance in this industry. Finally, look at FSET’s Employer Partners page to find banking industry positions in your area. If you are interested in applying, let your FSET Case Manager know, and the Career Services team may be able to reach out to the employer on your behalf! And if you’re hired with an Employer Partner, Career Services can reach out on your behalf to resolve any concerns or help answer questions during your job retention period.
Check out a couple of our FSET Employer Partners below for positions in the Banking Industry!
Associated Bank is the largest Wisconsin based bank. We bring together nearly 200 branch locations with opportunities as a teller, banker, or customer care representative.
Region 8 branches in EAU CLAIRE, CHIPPEWA FALLS, and STANLEY
Marine Credit Union is a member-owned financial cooperative providing quality financial solutions to those in financial need.
Workforce Data
West Central
Region
Barron 2.8%
Chippewa 2.5%
Clark 2.2%
Dunn 2.6%
Eau Claire 2.5%
Pepin 2.3%
Pierce 2.7%
Polk 2.9%
St. Croix 2.6%
NorthCentral
Region
Adams 3.4%
Forest 3.1%
Langlade 3.0%
Lincoln 2.6%
Marathon 2.4%
Oneida 2.4%
Portage 2.6%
Vilas 2.7%
Wood 2.6%
WisConomy - Number of Job Openings vs. New Hires Over Time
While it's no secret that the number of job openings fluctuates over time, have you ever thought about how the number of openings compares to the number of new hires? This screenshot from WisConomy shows the number of job openings vs. hires in Wisconsin from January 2011 - July 2025, and more specifically demonstrates the big picture of how job openings fluctuate rapidly while the number of new hires stays comparatively stable over time, with the exception of early-mid 2020, which was the very beginning of the COVID pandemic.
So, why does the number of new hires stay relatively stable while the number of job openings fluctuates so much? There are a lot of factors contributing to this discrepancy, including the number of workers involved in the labor market. As more people over 65--the 'Baby Boomer' generation--retire from the workforce, the number of new workers coming in to replace them cannot keep up; in short, there are more people leaving the workforce than entering it. Another contributing factor is industry growth. With a greater number of elderly individuals and a stronger emphasis on mental health services, there comes a greater need for caregivers, nurses, and healthcare professionals, which drives up the number of job openings. Overall, there are many moving pieces in the labor market which can lead to a difference between job openings and new hires. Please feel free to look at more information regarding Wisconsin's labor force on the Department of Workforce Development's WisConomy page. To interact with this graph in particular, click here.
Want to learn more?
Please visit WisConomy's Data Dashboard, where you can find all sorts of great information and resources on our local and state labor market!
Resources for Employers and Job Seekers:
Wisconsin Senior Employment Program (WISE) - Employment training program for low-income, unemployed individuals aged 55 years and older. MORE INFO
Laitinen Academy Peer Recovery Coach Training - This program is designed for those with lived experience in recovery from substance use or mental health challenges. MORE INFO