Address
Form of workSalary : $112,000.00 - $125,000.00 Annually
Location : Thurston County - Olympia, WA
Job Type: Exempt
Remote Employment: Flexible/Hybrid
Job Number: 2024-02598
Department: Office of Financial Management
Division: Forecasting and Research
Opening Date: 03/18/2024
Closing Date: 3/29/2024 11:59 PM Pacific
Description
Please Note: The starting salary offer will be determined based on the successful candidates' qualifications within the budgeted salary range of $112,000 - $125,000 annually. However, there is ability for longevity growth and progression in salary for the individual once employed.
Hybrid:Our physical office is in Olympia WA. This position is flexible/hybrid, with the ability to work from home, and some travel to in-person activities, meetings, and events.
What this job is about:
As a Senior Economist, you will play a crucial role in shaping economic policies and decision-making. You will be tasked to develop and carry out analytic and research studies, and economic and revenue forecasts based on the requirements of policies, statutes and budget provisos Office of Financial Management (OFM) implements. You'll be required to coordinate, integrate and execute several analysis and research components as well as stakeholder work with staff from multiple state agencies. Your work will involve highly complex tasks. These tasks demand specialized analytical and research skills. You'll dive into employment trends, revenue projections, economic development, and other relevant programs and data required by OFM, the Legislature and the Governor's Office.
You'll explore innovative solutions by conducting thorough research and analyses. Your approach may be non-standard, but methodologically rigorous to achieve the results. Your work will be highly visible to external stakeholders including the public, the Governor, Legislature, federal agencies, and state agencies.
Who we are:
The Forecasting and Research Division of the Office of Financial Management provides the executive branch, the Legislature, and the public with estimates, forecasts, analysis, research, and reports on a wide range of issues, including the state's population and demographic characteristics, the economy and economic development, state revenues, public safety, health, and education and workforce issues, among other topics.
If playing a key role in supporting and improving state government matters to you, you've found the right place!
What we offer our employees:
See ourBenefits pagefor more information.
Duties
What you'll do:
Conduct economic and revenue research and data analysis:
Support other economic and revenue related activities:
Ad hoc data requests, briefing papers, and other duties:
Qualifications
Required:
OR
Desired:
Supplemental Information
How to apply:
Interested? We would love to hear from you. Click "Apply" at the top of this page to start your application (you can save the application and come back to it, if needed).
IMPORTANT: To be considered for this position, please include the following along with your application:
Questions:
For questions about this recruitment or to request reasonable accommodation in the application process, please email Leila Vandiver at TalentAcquisition@ofm.wa.gov. For TTY service, dial 711 to reach the Telecommunications Device for the Deaf system please call the Washington Relay Service at 7-1-1 or 1-800-833-6388.
The Office of the Governor is an equal opportunity employer. We strive to create a working environment that includes and respects cultural, racial, ethnic, sexual orientation and gender identity diversity. Women, racial and ethnic minorities, persons of disability, persons over 40 years of age, and disabled and Vietnam-era veterans are encouraged to apply.
More than Just a Paycheck!
Employee benefits are not just about the kind of services you get, they are also about how much you may have to pay out of pocket. Washington State offers one of the most competitive benefits packages in the nation.
We understand that your life revolves around more than just your career. Like everyone, your first priority is ensuring that you and your family will maintain health and financial security. That's why choice is a key component of our benefits package. We have a selection of health and retirement plans, paid leave, staff training and other compensation benefits that you can mix and match to meet your current and future needs.
Read about our benefits:
The following information describes typical benefits available for full-time employees who are expected to work more than six months. Actual benefits may vary by appointment type or be prorated for other than full-time work (e.g. part-time); view the job posting for benefits details for job types other than full-time.
Note: If the position offers benefits which differ from the following, the job posting should include the specific benefits.
Insurance Benefits
Employees and their families are covered by medical (including vision), dental and basic life insurance. There are multiple medical plans with affordable monthly premiums that offer coverage throughout the state.
Staff are eligible to enroll each year in a medical flexible spending account which enables them to use tax-deferred dollars toward their health care expenses. Employees are also covered by basic life and long-term disability insurance, with the option to purchase additional coverage amounts.
To view premium rates, coverage choice in your area and how to enroll, please visit the Public Employees Benefits Board (PEBB) website. The Washington Wellness program from the Health Care Authority works with PEBB to support our workplace wellness programs.
Dependent care assistance allows the employee to save pre-tax dollars for a child or elder care expenses.
Other insurance coverage for auto, boat, home, and renter insurance is available through payroll deduction.
The Washington State Employee Assistance Program promotes the health and well-being of employees.
Retirement and Deferred Compensation
State Employees are members of the Washington Public Employees' Retirement System (PERS). New employees have the option of two employer contributed retirement programs. For additional information, check out the Department of Retirement Systems' web site.
Employees also have the ability to participate in the Deferred Compensation Program (DCP). This is a supplemental retirement savings program (similar to an IRA) that allows you control over the amount of pre-tax salary dollars you defer as well as the flexibility to choose between multiple investment options.
Social Security
All state employees are covered by the federal Social Security and Medicare systems. The state and the employee pay an equal amount into the system.
Public Service Loan Forgiveness
If you are employed by a government or not-for-profit organization, and meet the qualifying criteria, you may be eligible to receive student loan forgiveness under the Public Service Loan Forgiveness Program.
Holidays
Full-time and part-time employees are entitled to paid holidays and one paid personal holiday per calendar year.
Note: Employees who are members of certain Unions may be entitled to additional personal leave day(s), please refer to position specific Collective Bargaining Agreements for more information.
Full-time employees who work full monthly schedules qualify for holiday compensation if they are employed before the holiday and are in pay status for at least 80 nonovertime hours during the month of the holiday; or for the entire work shift preceding the holiday.
Part-time employees who are in pay status during the month of the holiday qualify for the holiday on a pro-rata basis. Compensation for holidays (including personal holiday) will be proportionate to the number of hours in pay status in the month to that required for full-time employment, excluding all holiday hours. Pay status includes hours worked and time on paid leave.
Sick Leave
Full-time employees earn eight hours of sick leave per month. Overtime eligible employees who are in pay status for less than 80 hours per month, earn a monthly proportionate to the number of hours i...
Location : Thurston County - Olympia, WA
Job Type: Exempt
Remote Employment: Flexible/Hybrid
Job Number: 2024-02598
Department: Office of Financial Management
Division: Forecasting and Research
Opening Date: 03/18/2024
Closing Date: 3/29/2024 11:59 PM Pacific
Description
Please Note: The starting salary offer will be determined based on the successful candidates' qualifications within the budgeted salary range of $112,000 - $125,000 annually. However, there is ability for longevity growth and progression in salary for the individual once employed.
Hybrid:Our physical office is in Olympia WA. This position is flexible/hybrid, with the ability to work from home, and some travel to in-person activities, meetings, and events.
What this job is about:
As a Senior Economist, you will play a crucial role in shaping economic policies and decision-making. You will be tasked to develop and carry out analytic and research studies, and economic and revenue forecasts based on the requirements of policies, statutes and budget provisos Office of Financial Management (OFM) implements. You'll be required to coordinate, integrate and execute several analysis and research components as well as stakeholder work with staff from multiple state agencies. Your work will involve highly complex tasks. These tasks demand specialized analytical and research skills. You'll dive into employment trends, revenue projections, economic development, and other relevant programs and data required by OFM, the Legislature and the Governor's Office.
You'll explore innovative solutions by conducting thorough research and analyses. Your approach may be non-standard, but methodologically rigorous to achieve the results. Your work will be highly visible to external stakeholders including the public, the Governor, Legislature, federal agencies, and state agencies.
Who we are:
The Forecasting and Research Division of the Office of Financial Management provides the executive branch, the Legislature, and the public with estimates, forecasts, analysis, research, and reports on a wide range of issues, including the state's population and demographic characteristics, the economy and economic development, state revenues, public safety, health, and education and workforce issues, among other topics.
If playing a key role in supporting and improving state government matters to you, you've found the right place!
What we offer our employees:
- An environment of We strive to hire, cultivate and retain a competitive workforce that reflects the communities we serve.
- A healthy life/work balance by offering flexible/alternative work schedules, wellness program, mobile arrangements and telework opportunities.
- Employees (and their families) have coverage options for medical, dental, vision and basic life insurance.
- Opportunity to enroll in state retirement programs and a deferred compensation plan.
- A minimum of 14 days of vacation leave per year and 12 paid holidays throughout the calendar year.
- A commute trip reduction program, tuition reimbursement, membership to statewide Business Resource Groups and an Infants-at-Work program.
See ourBenefits pagefor more information.
Duties
What you'll do:
Conduct economic and revenue research and data analysis:
- Produce short-term net migration forecast annually. Using inputs and forecasts from the Long-Term Labor Force and Nonfarm Employment Forecast, develop and produce a short-term net migration projection for the Division's Population Unit for use in their population estimates and forecasts.
- Attend the Economic and Revenue Forecast Council quarterly workgroup to review the economic forecast that drives the state revenue forecast. Analyze the quarterly economic forecast to assess potential revenue impact. Consult with Director on results. Produce regular OFM publications in support of economic and revenue policy.
- Annually update and enhance the online Washington Trends chapters (Economy, Population, Social Economic, Revenue Expenditure, and Budget Drivers).
- Prepare in-house Monthly Economic Report that reviews and analyzes national and local labor markets, industrial trends, consumer prices, retail sales, real wages, Washington state revenues, international trade, housing markets, and leading economic indicators.
- Draft Economic Developments analysis for the supporting sections in the Consolidated Annual Financial Report.
- Draft Economy and Outlook section for Governor's Budget Directions.
- Collaboratively develop a research agenda for future economic analysis to inform state policymaking and budgeting.
Support other economic and revenue related activities:
- Draft weekly economic update for senior agency managers. Review summary points and brief analysis with Economy and Revenue team members.
- Analyze complex economic and revenue issues.
- Create complex econometric models to forecast tax and fee revenues.
Ad hoc data requests, briefing papers, and other duties:
- Update Special District Commissioner Pay and Per Diem amounts as per statute, consult with legal staff, and provide to the Code Reviser for posting.
- Provide state and local government construction inflation indicators for Budget Division use.
- Produce ad hoc analysis and reports in response to requests by OFM budget and policy staff, legislators, and legislative staff on a wide range of topics that can include but are not limited to aerospace developments, housing market developments, sales tax developments and labor market developments. Special analyses and research are requested by stakeholders that include the Governor, OFM director and staff, policy staff, legislators, legislative staff, agency directors, and agency staff.
- Protect the security, privacy and confidentiality of individual and business level data as prescribed by unit, ERDC, OFM and OCIO policies, procedures, and internal controls as well as state and federal laws.
- Produce quarterly revenue forecasts as assigned.
Qualifications
Required:
- Graduate degree involving quantitative research, including formal education in the use of descriptive and multivariate statistics including econometric models and five years' experience in quantitative research and analysis or forecasting.
OR
- Bachelor's degree involving quantitative research, including formal education in the use of descriptive and multivariate statistics including econometric models with ten or more years of experience in quantitative research and analysis or forecasting may also be considered;
- Working knowledge of state and national economic and employment data and inflation indices;
- Competence in data analysis using statistical and spreadsheet software such as SAS, EViews, Gauss, and MS Excel;
- Ability to convert data and analysis to practical, understandable information;
- Experience using, maintaining, and updating input-output models;
- Ability to communicate effectively including conveying complex data and analysis to audiences with limited knowledge of research, economics, and statistical methods; and
- Experience working effectively without close supervision.
Desired:
- Doctorate degree involving quantitative research, including formal education in the use of descriptive and multivariate statistics including econometric models;
- Advanced skills in SAS, EViews, Gauss or other econometric software;
- Strong data management skills and experience working with large, complex databases in a research setting;
- Knowledge of the Economic and Revenue Forecast Council's forecasting process and models; and;
- Experience working with sensitive and confidential data.
Supplemental Information
How to apply:
Interested? We would love to hear from you. Click "Apply" at the top of this page to start your application (you can save the application and come back to it, if needed).
IMPORTANT: To be considered for this position, please include the following along with your application:
- Letter of interest: describing your specific qualifications.
- Resume: that details your applicable experience and education.
- References: at least three professional references with current telephone numbers.
Questions:
For questions about this recruitment or to request reasonable accommodation in the application process, please email Leila Vandiver at TalentAcquisition@ofm.wa.gov. For TTY service, dial 711 to reach the Telecommunications Device for the Deaf system please call the Washington Relay Service at 7-1-1 or 1-800-833-6388.
The Office of the Governor is an equal opportunity employer. We strive to create a working environment that includes and respects cultural, racial, ethnic, sexual orientation and gender identity diversity. Women, racial and ethnic minorities, persons of disability, persons over 40 years of age, and disabled and Vietnam-era veterans are encouraged to apply.
More than Just a Paycheck!
Employee benefits are not just about the kind of services you get, they are also about how much you may have to pay out of pocket. Washington State offers one of the most competitive benefits packages in the nation.
We understand that your life revolves around more than just your career. Like everyone, your first priority is ensuring that you and your family will maintain health and financial security. That's why choice is a key component of our benefits package. We have a selection of health and retirement plans, paid leave, staff training and other compensation benefits that you can mix and match to meet your current and future needs.
Read about our benefits:
The following information describes typical benefits available for full-time employees who are expected to work more than six months. Actual benefits may vary by appointment type or be prorated for other than full-time work (e.g. part-time); view the job posting for benefits details for job types other than full-time.
Note: If the position offers benefits which differ from the following, the job posting should include the specific benefits.
Insurance Benefits
Employees and their families are covered by medical (including vision), dental and basic life insurance. There are multiple medical plans with affordable monthly premiums that offer coverage throughout the state.
Staff are eligible to enroll each year in a medical flexible spending account which enables them to use tax-deferred dollars toward their health care expenses. Employees are also covered by basic life and long-term disability insurance, with the option to purchase additional coverage amounts.
To view premium rates, coverage choice in your area and how to enroll, please visit the Public Employees Benefits Board (PEBB) website. The Washington Wellness program from the Health Care Authority works with PEBB to support our workplace wellness programs.
Dependent care assistance allows the employee to save pre-tax dollars for a child or elder care expenses.
Other insurance coverage for auto, boat, home, and renter insurance is available through payroll deduction.
The Washington State Employee Assistance Program promotes the health and well-being of employees.
Retirement and Deferred Compensation
State Employees are members of the Washington Public Employees' Retirement System (PERS). New employees have the option of two employer contributed retirement programs. For additional information, check out the Department of Retirement Systems' web site.
Employees also have the ability to participate in the Deferred Compensation Program (DCP). This is a supplemental retirement savings program (similar to an IRA) that allows you control over the amount of pre-tax salary dollars you defer as well as the flexibility to choose between multiple investment options.
Social Security
All state employees are covered by the federal Social Security and Medicare systems. The state and the employee pay an equal amount into the system.
Public Service Loan Forgiveness
If you are employed by a government or not-for-profit organization, and meet the qualifying criteria, you may be eligible to receive student loan forgiveness under the Public Service Loan Forgiveness Program.
Holidays
Full-time and part-time employees are entitled to paid holidays and one paid personal holiday per calendar year.
Note: Employees who are members of certain Unions may be entitled to additional personal leave day(s), please refer to position specific Collective Bargaining Agreements for more information.
Full-time employees who work full monthly schedules qualify for holiday compensation if they are employed before the holiday and are in pay status for at least 80 nonovertime hours during the month of the holiday; or for the entire work shift preceding the holiday.
Part-time employees who are in pay status during the month of the holiday qualify for the holiday on a pro-rata basis. Compensation for holidays (including personal holiday) will be proportionate to the number of hours in pay status in the month to that required for full-time employment, excluding all holiday hours. Pay status includes hours worked and time on paid leave.
Sick Leave
Full-time employees earn eight hours of sick leave per month. Overtime eligible employees who are in pay status for less than 80 hours per month, earn a monthly proportionate to the number of hours i...
