Labor Market Information Flashcards

Which BLS program produces employment and wage estimates for roughly 800 occupations by state and metropolitan area?

Answer: Occupational Employment and Wage Statistics (OEWS)

OEWS publishes occupation-level employment and wage estimates at national, state, and metro levels.

A client sees that an occupation's median annual wage is $52,000. What does this figure mean?

Answer: Half of workers earn more and half earn less than $52,000

The median is the midpoint of the wage distribution, with 50% of workers above and 50% below.

Which survey, conducted for BLS by the Census Bureau, is the household survey used to calculate the official national unemployment rate?

Answer: Current Population Survey (CPS)

The monthly CPS household survey is the source of the official unemployment rate.

A client who wants a job but has stopped looking because they believe no jobs are available is classified as:

Answer: A discouraged worker, not counted in the labor force

Discouraged workers are outside the labor force because they are not actively searching.

Which type of unemployment best describes a coal miner whose skills no longer match available jobs after the region's mines close permanently?

Answer: Structural

Structural unemployment results from a lasting mismatch between workers' skills or location and available jobs.

In O*NET, a Job Zone 4 occupation typically requires:

Answer: Considerable preparation, usually a four-year bachelor's degree

Job Zone 4 means considerable preparation, with most occupations requiring a bachelor's degree.

Why should a counselor caution a client relying solely on national occupational projections who plans to stay in their hometown?

Answer: Local demand and wages can differ substantially from national figures

Regional labor markets vary, so state and local LMI should supplement national projections.