Journal 7: Data: Employment Projections and Analysis

[Overview]
The assignment is a building block table for use in your final exam, so before doing
Journal 7, be sure to read the exam, so you can make good choices for this week's journal.
Be sure that you construct a table that is clear and complete; that can stand alone as a
factual reference.

**[Instructions] Please read carefully!! (At least 500 words)

This week we continue our work with BLS data.

In preparation for setting future wages, choose an NAICS (North American Industry
Classification system) with hourly employees and a metropolitan area.
Build a table that shows average hourly wages for the NAICS and metro area you have
chosen. (You may want to add additional columns and rows; i.e., you might want to show
average hourly earnings or total number of establishments or production employees in
additional rows or in additional columns, you may want to add other metro areas for
comparison or the comparative national numbers. You may want to consider, at this
point, real dollar wages in contrast to current dollar wages. It is useful for you think about
the final exam and build this table to help you with your overall strategy for the exam. For
example, making a case for a wage increase in New York City is more difficult because its
wages, in most categories are higher than in surrounding jurisdictions, so, for the sake of
this exercise, you may want to choose a lower wage area (though you can certainly
choose New York City if you want). It is acceptable to just show hourly wages for the
NAICS you choose in the metro area you have chosen.
List comparable metropolitan areas and comparable job classifications that you will use
for your proposal (on the exam). Write a paragraph about the strategies you intend to use
to make your wage case for the final exam. Provide some detail. (This way I can provide
some critique and suggestions before you begin the exam.)
When you choose an NAICS and a metro area, think strategically. Find ones you're
interested in, but also remember that this is an academic exercise. If you want to make it
as easy as possible for yourself, think of job categories of relatively underpaid workers
and geographical areas that are also relatively underpaid. It is often harder to make the
case for NYC jobs, for example, because your comparable metro areas are not likely to
pay as well as NYC. There are lots of ways to make the wage case for any job and area,
but this "first time around" consider strategies that make your work as easy as
possible. Be sure you can justify the comparables you use. Be sure your table "tells the
story" you want to communicate. Don't forget comprehensive titles, column and row
definitions, and sources. Always tell the year of your numbers and if dollars are in current
or constant dollars, and if constant what the base year is.

Source:

https://www.bls.gov/home.htm (Bureau of Labor Statistics)

* This paper is related to the Exam.

* I will order about Exam next week.

[Final Exam Questions]- Do not need answer this week paper. (I Will order later)
1. Using your table, from Journal 7, build the case (in written form and in tables) for a
particular wage for 2018 and 2019 based on real wages, parity with other similar NAICSs
and jurisdictions, and any other data you see as relevant. Comparing the past
percentage changes across similar occupations and jurisdictions is one way to build a
case. Looking at past wages in that jurisdiction is also important. You will probably
want to look at both current and constant dollar wages. Be sure that you are analytic
and use specific numbers in your narrative.

Have at least 2-3 tables.

2. Write 500-1000 words telling what theoretical aspects of labor economics and/or other
information you would ideally like to have in order to set wages. What interactions
within a firm would you establish? Be as specific as possible.

3. Tell in a paragraph each, the three most important things you learned this semester
and how you might use that information as you move forward with your major/career.