Labor Analysis
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Labor statistics are compiled by a variety of sources, but most analysts rely on information from the Bureau of Labor Statistics for raw data. From this information, analysis can be conducted on the composition of the American workforce and changes that might be taking place with regard to who is working and how much remuneration they are receiving. By analyzing this information, decisions can be made regarding interest rates (as might be done by the Federal Reserve), investment decisions (as might be undertaken by institutional investors), and wages (as might be performed by business and industry). This research examines labor rates with regard to the period 1989 to 1999 (or 1998 when 1999 information is not available) and considers the reasons for particular trends.At the heart of any labor analysis is the size of the entire civilian labor force (Fullerton, 1997, p. 24). This figure indicates the number of people who might be eligible, willing and able to work at any point in time; changes in this figure can be the result of changes in population trends, or changes in the demographics of the nation. This is not a measure of employment, but merely an indication of the number of people who are likely to be seeking employment at a particular time. The following chart illustrates the civilian labor force from 1989 through 1999 (as available) on a monthly basis ("Table A-1," 1999, p.1). As illustrated in the chart, employment has risen steadily fr
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he greatest increase in participation was in women who are also heads of households. It is not clear whether this indicates that there are more working women in this category, or whether more women who are in this category are finding employment. However, given that a number of states are now limiting participation on traditional welfare to a specific period of time, and women with children are typical welfare recipients, it is expected that women in this category will increasingly be seeking employment, even at the part-time level (Harris, 1999, p. B1).
The following chart, which shows the average hours worked by production workers, shows a remarkably steady level (in the 34 hour per week range), with the highest number of average hours peaking in 1994 ("Table B-2," 1999, p.1). This chart tracks work across all industries, and indicates that the average worker has not seen a noticeable increase in the number of hours worked during the 1989 to 1999 period. This chart illustrates that, in general, American employers were not requiring overtime from their employees (which should hold down labor costs as a whole), nor were American employees working longer hours than in the past. Productivity gains, including technology, are
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Approximate Word count = 1220
Approximate Pages = 5 (250 words per page)
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