Labor Market Information Flashcards

Which BLS unemployment measure adds marginally attached workers and those working part time for economic reasons to the official rate?

Answer: U-6

U-6 is the broadest BLS measure of labor underutilization.

A client earned a 3% raise while the CPI rose 5% that year. What happened to the client's real wage?

Answer: It fell by about 2%

Real wages adjust for inflation, so a 3% raise minus 5% inflation is roughly a 2% loss in purchasing power.

Which source provides the most complete count of jobs and wages covered by unemployment insurance, by county and industry?

Answer: Quarterly Census of Employment and Wages (QCEW)

QCEW is built from UI tax records, covering about 95% of U.S. jobs.

The labor force participation rate is defined as:

Answer: The labor force divided by the civilian noninstitutional population age 16 and over

LFPR shows the share of the working-age population that is employed or actively seeking work.

Real-time LMI drawn from online job postings has which major limitation?

Answer: It overrepresents jobs posted online and may count duplicate postings

Postings data skew toward occupations that recruit online and can include duplicates or ghost postings.

O*NET's 'Bright Outlook' designation means an occupation:

Answer: Is projected to grow rapidly or have many openings over the coming years

Bright Outlook flags occupations projected to grow much faster than average or have large numbers of openings.

A client wants to compare commuting patterns and where workers in a county actually live. Which Census program is most useful?

Answer: Longitudinal Employer-Household Dynamics (LEHD) OnTheMap

LEHD's OnTheMap shows where workers live and work.