Introduction to Labor Market Information

By Timothy McElhinny

Labor market information at its essence refers to data associated with the supply and demand for workers. The goal of this book is to explain what labor market information is, where to find it, and how to use it to describe and analyze a local geographic area. Designed for workforce and economic developers, educators, economists, journalists, researchers and data analysts. The supply is the labor force, or people and their characteristics. The people who are working are the employed, and the people who want to work are the unemployed. Together they are referred to as the labor force and can be described in various ways - by age, education, race, gender, and more. The demand is created by employers. These are businesses in different industries that need workers to fill jobs to produce a product or service. Similarly, employers can be described by their employment size, industry, and more. Where supply and demand meet are through occupations, or the types of jobs employers want to fill to run their operations. To get these jobs people must have certain skills, gained through education and experience. To employ these skilled people employers must pay wages depending on the occupation. This is the framework of how labor market analysis begins.

• Format: Paperback
• Language: English
• ISBN: B0D4J4JBJ2
• ISBN13: 9798861326704
• Release Date: May 2024
• Publisher: Independently published
• Length: 209 Pages
• Dimensions: 8.5" x 0.5" x 8.5"