CVE Labor Market & Economic Analysis Flashcards

Which of the following BEST represents the purpose of a 'vocational economist' versus a 'vocational evaluator' in forensic cases?

Answer: The vocational economist quantifies financial losses while the vocational evaluator identifies occupational options and earning capacity

Vocational evaluators identify occupational options and earning capacity, while vocational economists typically apply statistical methods to quantify and project the economic value of those losses.

In vocational evaluation for Social Security disability determinations, which tool is used to identify whether jobs exist at the national level that the claimant can perform?

Answer: Dictionary of Occupational Titles (DOT) with vocational expert testimony or SkillTRAN data

In SSA hearings, the DOT combined with vocational expert testimony (and increasingly SkillTRAN/O*NET data) is used to identify jobs existing in significant numbers at the national level.

Which concept describes the wage difference between a client's pre-disability occupation and their post-disability occupational options?

Answer: Wage loss or earning capacity differential

The wage differential or earning capacity loss quantifies the economic impact of the disability by comparing pre- and post-disability earning potential.

In a vocational evaluation for a long-term disability (LTD) claim, 'own occupation' versus 'any occupation' definitions are relevant because:

Answer: LTD policies differ in whether disability is defined as inability to perform the claimant's specific job versus any job for which they are suited

LTD insurance policies use 'own occupation' or 'any occupation' definitions to determine when a claimant qualifies for benefits, directly affecting the scope of the vocational evaluation.

Which government database provides county-level and metropolitan area employment and wage data useful for documenting local labor market conditions?

Answer: BLS Occupational Employment and Wage Statistics (OEWS) with area-level breakdowns

The BLS OEWS provides employment and wage data broken down by metropolitan area and state, enabling vocational evaluators to document local labor market conditions with government-sourced data.

A vocational evaluator determines that a client's post-injury earning capacity is $28,000/year compared to a pre-injury earning capacity of $52,000/year. The annual wage loss is which of the following?

Answer: $24,000 per year

The annual wage loss is the difference between pre- and post-injury earning capacity: $52,000 - $28,000 = $24,000 per year.