CVE Labor Market & Economic Analysis Flashcards

In vocational evaluation, 'labor market access' refers to which of the following?

Answer: The proportion of jobs in a geographic area that a client can perform given their abilities and limitations

Labor market access measures what percentage of available jobs in a relevant area the client can perform based on their vocational profile and functional limitations.

The Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS) survey is used in vocational evaluation primarily to:

Answer: Determine prevailing wages for occupations identified in a vocational evaluation

The OEWS survey provides national and regional wage data for occupations, which vocational evaluators use to document earning capacity in cases involving vocational loss.

In a forensic vocational context, 'earning capacity' is BEST defined as:

Answer: The realistic range of wages a person can earn in the labor market given their vocational abilities, education, and limitations

Earning capacity is the realistic range of wages an individual can earn in the competitive labor market given their evaluated vocational abilities, education, and functional limitations.

Which factor is MOST important in determining whether identified occupations represent a 'significant number of jobs' in the national economy?

Answer: OES/OEWS job count data from the BLS for the relevant occupational categories

BLS OES/OEWS data provides the authoritative count of jobs in occupational categories at national and regional levels, which is the standard used to establish significant numbers of jobs.

Which economic concept is directly relevant when a vocational evaluator analyzes the wage loss suffered by a plaintiff in a personal injury case?

Answer: Present value of future earnings and the wage differential between pre- and post-injury earning capacity

Present value analysis of the wage differential between pre- and post-injury earning capacity is the core economic concept in personal injury vocational and economic loss analysis.

In labor market research for vocational evaluation, which source provides the MOST authoritative data on employment trends and occupational projections?

Answer: Bureau of Labor Statistics (BLS) Occupational Outlook Handbook and Employment Projections

The BLS OOH and Employment Projections program provide authoritative, nationally recognized data on employment trends, growth projections, and occupational characteristics.