Econ data analysis project
saizo0816
LaborStatisticsFall18.pptxLabor Statistics
Labor Statistics
Employment and Unemployment
BLS Employment Situation Summary
“Official Rate” U3: (UE/LF)
Omits “Part-Time” and “Discouraged Workers”
Inferior indicator of month-to-month fluctuations (sampling error of 0.12%)
Demographic and characteristic data on the population.
Workers perspective
Superior indicator of month-to-month fluctuations.
Wage, hours, and occupational data
Employers perspective
Labor Statistics
Minimum Wage and Jobs
Card & Krueger, 1995, telephone survey found a minimum wage increase did not adversely impact jobs.
Neumark & Wascher, payroll records, suggested the opposite.
Overall concerns with research:
Wage vs. Compensation data.
Job vs. hourly employment data.
Effects on non minimum wage workers (compression)
Diminishing job growth vs. diminishing jobs.
Unionization
Prior to 1973 data came from direct union reports
Biased upward to strengthen image.
Downward bias for local unions to reduce dues.
Post 1973 CPS sampling survey has been used.
1976 changed wording from “union” to “union or employee association similar to a union“
Compiled based on newspaper, magazine, and government reports.
Labor Statistics
Workplace Safety
In 2009 & 2010 workplace injuries dropped to lowest level since recorded in 1992.
Fishing most dangerous.
May be due to job losses in historically dangerous industries.
