1. Labor Market Information/LMI: How to Demystify Labor Market & Economic Statistics Tuesday, June 29, 2010 Presentation by Gary Crossley to the IAWP 97 th Educational Conference 2Work www.LovetoWork.org [email_address] Phone -- 843/452-4121
25. Cheat Sheet BLS Program Quarterly Census of Employment and Wages CES -- Current Employment Survey LAUS -- Local Area Unemployment Statistics MLS -- Mass Layoff Statistics OES -- Occupational Employment Statistics Other titles Wage Record Monthly Employment Unemployment Rate Labor Force Data Mass Layoffs Wages by Job Title Frequency Quarterly Monthly Monthly Monthly Previously once a year. Data now gathered in May and November Sample No, universe of all businesses that are required to report Yes, firms in sample are based on the QCEW universe. No, Composite model which uses as one of the inputs responses from the Current Population Survey, a household survey that measures the national unemployment rate. No, universe of all businesses that have a qualifying event. Yes, firms in sample are based on the ES-202 universe. Measures Quarterly report of all employment and firms (Industry and Employment) Indicator of rapid changes in employment available on a monthly basis (Industry, Employment and Manufacturing Production Workers wages). Is used for industrial projections. Consistent measure of available, able and actively seeking work for all counties (Unemployment Rate) Shows the demographic characteristics of those involved in a mass layoff. Definition of mass layoff event varies by state. Occupational data by Industry, geographic area as well as wage data. Is a component for projections. Time Lag Not available until 5 months after the end of the quarter Usually, 6 weeks. Usually, 6 weeks. Usually, 6 weeks. Approximately one year, should be shorter with new reporting method. Updates? Of the data, rarely Preliminary data, then revised. Benchmarked at the end of the year Benchmarked at the end of the year Of the data, rarely Uses the ECI (Employment Cost Index) to bring data up- to-date Geography Subject to rules of confidentiality. May include county, metropolitan areas and state Subject to rules of confidentiality. Metropolitan areas and state County, metropolitan areas and state. In addition, the different counties in an area can be added together to create Labor Market Areas. Subject to rules of confidentiality. In some states, county, metropolitan areas and state data are available. Subject to rules of confidentiality. Metropolitan areas and state are available. In addition, each state may produce four sub- areas. Comparison of Bureau of Labor Statistics Programs done in Labor Market Information Shops
47. Deep Water Horizon Rig Employment Off-Shore Moratorium The economic impact of shutting down a deep water drilling rig is no doubt massively expensive. But employment impact is different. As a benchmark, the employment on the BP rig was 126 persons . It is reported that wages average about 100k per year for those workers. However, I could not find that person anywhere, except in the management ranks according to National OES data! Furthermore, most if not all support workers, according to the BLS , make less than 1/2 that unsubstantiated amount. Interestingly, as soon as we get into a multiplier discussion, the numbers start off ridiculously high and go up from there. But a multiplier over two is not reasonable or supported in any research and especially not in this case. One primary reason is the service nature of the JOBS we are talking about, NOT the industry multipliers.
50. Labor Market Information/LMI: How to Demystify Labor Market & Economic Statistics Questions and State Sharing 2Work www.LovetoWork.org [email_address] Phone -- 843/452-4121