A B C D E F G I J L M N O P Q R S T U W
A
American Community Survey (ACS)
- An on-going survey conducted by the U.S. Census Bureau to provide up-to-date vital information on a yearly basis about our nation and its people. The ACS shows how people live--education, housing, jobs and more. Public officials, planners, and entrepreneurs use this information to assess the past and plan the future. ACS collects the more detailed socioeconomic information once collected via the long-form questionnaire during decennial censuses. For more, go to American Community Survey website.
Annual Average Employment
- The average number of people employed over a
given year in a given occupation or industry. It provides a measure of
average employment during the year without the effects of seasonal
variations.
Average Annual Wage
- Calculated by dividing total annual wages by the
average of the twelve monthly employment levels. "Wages" are total gross wages paid to employees including
bonuses, severance pay, year-end profit sharing, cash value of meals,
lodging, and tips and employer paid contributions to individual
retirement accounts.
See also - Average Weekly Wage.
Average Hourly Earnings
- Calculated by dividing gross payrolls by total hours. Reflect the
earnings of workers, including premium pay. They differ from wage
rates, which are the amounts stipulated for a given unit of work or
time.
Note - Average hourly earnings do not represent
total labor costs per hour for the employer, because they exclude
retroactive payments and irregular bonuses, employee benefits, and
the employer's share of payroll taxes. Earnings for those
employees not covered under production worker and non-supervisory
categories are not reflected in the estimates.
See also - Employment
Cost Index (ECI), Average
Weekly Wage.
Average Weekly Wage
- Derived by dividing total annual wages by fifty-two.
See also - Average
Hourly Earnings.
B
Bureau of Labor Statistics (BLS)
- The BLS is an agency within the US
Department of Labor and is the principal fact-finding agency for the
Federal Government in the field of labor economics and statistics.
The BLS collects, processes, analyzes, and disseminates essential
statistical data relating to employment, unemployment, the labor
force, productivity, prices, family expenditures, wages, industrial
relations, and occupational safety and health. Well known data
released by BLS include the Consumer Price Index, the Producer Price
Index, the national unemployment rate, hours and earnings, and
nonfarm employment levels.
Bureau of the Census
- As part of the U.S. Department of Commerce, the Bureau of the Census conducts the
Decennial Census of population and housing, the
Economic Census every five years, and the on-going
American Community Survey.
The Census Bureau also conducts the monthly
Current Population Survey (CPS)
in cooperation with BLS. Data from this survey provide inputs for the calculation of unemployment statistics.
Business Cycle
- Recurring expansion and contraction of the economy.
See also - Productivity,
Recession,
and Unemployment.
C
Census
- See Decennial Census.
Census Tract
- A small relatively permanent statistical subdivision of a county delineated by local
committees of census data users for the purpose of collecting and
presenting census data. It is worth noting that census tracts conform
with county lines (that is they are always sub-sets of a county),
but may not follow zip code lines.
See also - Decennial Census,
American Community Survey, and
Bureau of the Census.
Civilian Labor Force
- The civilian labor force comprises the total of all civilians age 16 and
older classified as employed or unemployed. This gives employers a
measure of the labor pool.
See also - Employed,
Labor Force,
Labor Force Participation Rate, and
Unemployed.
Civilian Non-institutional Population
- Total population age 16 or older excluding prison inmates or those hospitalized or in some
other form of institution.
See also - Civilian Labor Force,
Labor Force,
Labor Force Participation Rate, and
Unemployment.
Consumer Price Index (CPI) -
A measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. The Bureau of Labor Statistics publishes indexes for two population groups: (1)
CPI-U includes expenditures by urban wage earners and clerical workers, professional, managerial, and technical workers, the self-employed, short-term workers, the unemployed, retirees and others not in the labor force, and
(2) CPI-W includes only expenditures by those in hourly wage earning or clerical jobs. Among the CPI components are the costs of housing, food, transportation, and energy. CPI is the most widely used measure of inflation and is used to adjust other economic series into inflation-free (constant) dollars. For more, go to Consumer Price Index website.
Core Inflation Rate - The
rate of increase of prices of a set group of goods and services,
excluding more volatile prices, such as food and energy prices.
See also - Consumer
Price Index (CPI), Inflation.
Covered Employment and Wages
- See Quarterly Census of Employment and Wages
Current Employment Statistics (CES) Survey
- A federal and state cooperative program that provides monthly employment, hours, and earnings estimates for states and metropolitan areas based on payroll records of surveyed business establishments.
See also - Quarterly Census of Employment and Wages,
Metropolitan Area.
Current Population Survey (CPS)
- A monthly household survey of the civilian
non-institutional population of the United States. This BLS survey
provides labor market statistics (e.g., employment, unemployment,
and wages) by industry, occupation, and demographic characteristics.
The Bureau of the Census collects data for this survey in
cooperation with BLS.
See also -
Bureau of the Census,
Demographics.
Cyclical Unemployment
- Unemployment that results from periodic declines in the business
cycle (for example, recessions). Downswings in the level of economic
activity create unemployment as a result of inadequate demand for
workers. During a recovery, cyclical unemployment will be reduced or
eliminated.
See also -
Unemployment,
Recession.
D
Data Limitations
- Margin of error in collection methods, or incomplete data, which
affect the accuracy of some statistical analysis.
Decennial Census
- An enumeration or head count of the actual number of persons living in the U. S., conducted by the U.S. Census Bureau. The decennial census has been conducted every 10 years since 1790, as required by the U.S. Constitution. The nation is divided into small sections called Census Tracts, and within each tract the Census Bureau attempts to count the number of persons. Since 2005, data that were historically collected only once every 10 years by the decennial census long form have been collected monthly (and released annually) through the American Community Survey, in order to provide detailed information more frequently. Census data is used in the apportionment of seats in the House of Representatives, to distribute billions of federal funds to local communities and is key to planning for both private business and government. For more, go to Decennial Census website.
Demographics - Data
related to population; size, components of change, and
characteristics (e.g. age, education, etc.).
See also - Decennial
Census, Current
Population Survey. Discouraged Workers - A term
used to describe persons aged 16 or over without jobs who are not
actively seeking employment because they believe that they would be
unable to find a job. Even though discouraged workers would like to
be employed, they are not counted as unemployed, or even as part of
the labor force. This number, added to the number of counted
unemployed, can give a better idea of the actual number of potential
workers.
See also - Dislocated
Workers. Dislocated Occupations -
Occupations to which workers who become unemployed are unlikely to
return.
See also - Dislocated
Workers. Dislocated Workers - Workers
who have become unemployed because of structural changes in an
industry, natural disaster, or other factors, and have limited
opportunity to return to their old industry or occupation.
Durable Goods -
Manufactured items generally considered to have a normal life
expectancy of three years or more. Examples are automobiles,
furniture, household appliances, etc.
See also - Nondurable Goods.
Duration of Unemployment
- Represents the length of time that unemployed persons had been
looking for work at a given point in time.
See also - Unemployment.
E
Earnings - A general term describing
monetary compensation paid to individuals for work performed.
Depending on the context, this might not include irregular items
such as tips, commissions, profit sharing and bonuses, but may
include overtime pay, vacation and sick leave pay, shift
differential and hazardous duty pay.
See also - Income.
Economic Census -
The official measure of the Nation’s businesses and economy, conducted every five years by the U.S. Census Bureau. The Economic Census serves as the statistical benchmark for current economic activity such as the Gross Domestic Product and the Producer Price Index. It provides information on business locations, the workforce, and sales by product and service type. Comprehensive information is generated for industries and geographic areas. For more, go to Economic Census website.
Economic - Demographic Profiles - These are publications compiled and
published every year by the Economic and Labor Market Information Division of the Vermont Labor
Department. They provide a concise overview of the economies of
Vermont and its counties and towns, and contain information on population,
unemployment, income and wages.
Employed - A condition in
which persons 16 years of age or older worked for compensation in a
business during the week which includes the 12th day of the month,
or worked at least 15 hours (during the week which includes the 12th
day of the month) as unpaid workers in a family business; or had
jobs from which they were temporarily absent due to illness, bad
weather, vacation or labor-management dispute. Employed is used to describe
statistical employment payroll numbers that reflect the number of
jobs rather than the number of persons employed.
See also - Employment
(total).
Employment (nonfarm payroll)
- A count of all persons who worked full- or
part-time or received pay from a nonagricultural employer for any
part of the pay period which included the 12th of the month. Because
this count comes from a survey of employers, persons who work for
two different companies would be counted twice. Therefore, nonfarm
payroll employment is really a count of the number of jobs, rather
than the number of persons employed. Persons may receive pay from a
job if they are temporarily absent due to illness, bad weather,
vacation, or labor-management dispute. This count is based on where
the jobs are located, regardless of where the workers reside, and is
therefore sometimes referred to as employment "by place of work".
Nonfarm payroll employment data are collected and compiled based on
the Current Employment Statistics (CES)
survey, conducted by the Vermont Department of Labor. This count was
formerly referred to as nonagricultural wage and salary employment.
See also -
Employment (total),
Quarterly Census of Employment and Wages, and
Seasonal Adjustment.
Employment (total) - A count
of all civilians 16 years of age or older who worked for
compensation in a business or on a farm during the week which
included the 12th day of the month; or worked at least 15 hours
(during the week which includes the 12th day of the month) as unpaid
workers in a family business; or had jobs from which they were
temporarily absent due to illness, bad weather, vacation, or
labor-management dispute. This count is based on the residence of
the workers, and each worker is counted only once, even if they hold
more than one job. Therefore, this is sometimes referred to as
employment "by place of residence." The Vermont Department of Labor’s
Local Area Unemployment Statistics (LAUS) staff compiles total
employment data.
See also -
Local Area Unemployment Statistics,
Employment (nonfarm payroll),
Quarterly Census of Employment and Wages, and
Seasonal Adjustment.
Employment Cost Index - A
measure of the change in the cost of labor, free from the influence
of employment shifts among occupations and industries. Compensation
used in the ECI includes all wages, salaries, and benefit costs paid
by employers. Simply put, it measures the change in the total cost
of labor to employers and so includes the cost of benefits as well
as wages.
See also - Unit
Labor Costs, Producer
Price Index, and Full
Employment.
ES-202 - See Quarterly Census of Employment and Wages
F
Frictional Unemployment -
Unemployment resulting from the lags involved in the redeployment of
labor. If the number of vacancies in an occupation was exactly equal
to the number seeking employment, there "should" be no unemployment.
In practice, though, it takes time for the unemployed to find
vacancies, be interviewed, and be hired. At any one time, therefore,
there exists a small pool of unemployed owing to these "frictions"
in the workings of the labor market. Frictional unemployment results
primarily from people looking for their first jobs or those who quit
one job to look for another.
See also - Unemployment.
Full Employment
- The level of
employment, or unemployment rate, which provides the maximum
sustainable rate of economic growth and Gross Domestic Product
without resulting in accelerating inflation. A Full Employment rate
that is also just above the rate which will cause inflationary
pressure, is called the Non-Accelerating Inflation Rate of
Unemployment (NAIRU).
See also - Non-Accelerating
Inflation Rate of Unemployment (NAIRU).
G
Goods Producing Industries
- Those industries that primarily produce tangible products. The
Goods Producing domain includes Agriculture, Forestry, Fishing and Hunting; Mining, Construction, and
Manufacturing.
See also - Durable Goods,
Nondurable Goods, and
Service Providing Industries.
Gross Domestic Product
(GDP) - The total value of all goods and services produced
by the U.S. economy. GDP is compiled quarterly by the U.S.
Department of Commerce, Bureau of Economic Analysis.
See also - Gross
State Product. Gross State Product - The
total market value, in terms of current dollars, of all final goods
and service produced in the state in one year.
See also - Gross
Domestic Product.
I
Income
- A recurrent benefit, usually measured in money, which derives from
capital and labor. The major elements of income are wages (including
tips and bonuses), rents, interest and dividend income, transfer
payments, and proprietors’ income.
Industry
- A group of establishments that
produce similar products or provide similar services.
See also -
North American Industrial Classification System (NAICS).
Industry Employment
- The
number of filled positions in a particular industry at a particular
time. This does not necessarily imply full-time or year-round
positions.
See also -
North American Industrial Classification System (NAICS),
Quarterly Census of Employment and Wages, and
Current Employment Statistics Survey.
Inflation
- The rate of increase in the
general price level for a given area from one period to the next.
The two most common price indices used to measure inflation are the
Consumer Price Index (CPI) and the GDP price deflator.
See also - Consumer
Price Index, Employment
Cost Index, Core
inflation Rate.
Inflationary
Expectation - Anticipation of higher inflation contributing
to faster price increases.
Internship - An experience that takes
place at a work site, paid or unpaid, during which an intern (often
a student, but not always) works with an employee to complete
structured projects or activities specific to that business or
occupation.
J
Job Shadow - An experience
that takes place at a work site in which an individual observes and
interacts with an employee to learn about a specific job. As an
exploratory exercise, teachers (employers and workers) share
first-hand knowledge about occupations and businesses in their
region. The individual gains real life experience, which may
lead them to improved career choice decisions. Job shadowing is also being used as
part of the interview process by some employers.
L
Labor Force - Consists of the population, aged 16 and over, which
is employed or unemployed, including those in active military duty.
See also -
Local Area Unemployment Statistics,
Civilian Labor Force,
Labor Force Participation Rate,
Employed, and
Unemployed.
Labor Force Participation
Rate - The percent of people 16 years of age and older in a
specific population who are considered part of the labor force
(i.e., either employed or unemployed). Indicates the degree to which
a population is working; a low rate may indicate a reliance on other
forms of income, and a high rate may indicate a tighter labor
market.
See also - Civilian
Labor Force, Labor
Force, Employed,
and Unemployed. Labor Force Turnover
Rate - All job changing which occurs within the labor force,
excluding permanent separations from the labor force. Two major
types of labor force turnover include: 1) lateral or vertical
movement within an occupation; and 2) transfers between occupations,
either in the same firm or to other firms.
See also -
Turnover Rate,
JOLTS (U.S. Job Openings and Labor Turnover Survey at BLS).
Labor Market
Information - See Workforce
Information.
Local Area
Unemployment Statistics (LAUS) - A federal/State cooperative
program that produces labor force,
employment,
unemployment, and
unemployment rate
estimates for states and local areas.
Longitudinal Employer-Household Dynamics (LEHD)
- LEHD produces a number of data analysis tools by combing fderal, state and Census Bureau data on employers and employees under the Local Employment Dynamics (LED) Partnership. States Unemployment Insurance earnings data and Quarterly Census of Employment and Wages data are combined with Census survey data to create statistics on employment, earnings and job flows at detail levels of geography and industry, different demographic groups, and workers' residential patterns. For more, go to LEHD website.
See also - Quarterly Workforce Indicators (QWI).
M
Mean -
The most popular measurement of central tendency, the arithmetic mean
is calculated by summing all the values under consideration and
dividing by the number of values. Given the following
7 data points: 1, 2, 3, 4, 5, 5, and 9; the mean is 4.143
(1+2+3+4+5+5+9)/7).
Median -
A measurement of central tendency, the median or
middle point is the point at which there are an equal number of data points above
and below that data point. Given the following
7 data points: 1, 2, 3, 4, 5, 5, and 9; the median (the middle value) is 4.
Metropolitan Area -
A metropolitan or micropolitan statistical area consists of a core area of substantial population and adjacent communities with a high degreee of economic intergration.
Population data and commuting patterns are used to determine metropolitan statistical areas with a core area of 50,000 or more inhabitants, or micropolitan statistical areas with a core area of less than 50,000, but at least 10,000 population.
Metropolitan or micropolitan statistical areas are delineated by counties, in general. But in New England, cities and towns are used by the Bureau of Labor Statistics to define New England city and town areas (NECTAs).
See also - Metropolitan Area Concepts,
Vt 2015 Labor Market Definitions.
N
National Compensation
Survey - A BLS survey that provides information on average
weekly or hourly earnings and compensation for selected occupations.
See also - Employment
Cost Index. Natural Increases in
Population - The number of births minus the number of deaths
in a specified area over a specified period of time.
NECTA
- New England city and town areas. See Metropolitan Area.
Net Migration -
The number of people who moved into an area minus the number of
people who moved out during a specified period of
time.
Nominal
Dollars/Income - The face, actual, or par value of currency
with no regard to actual purchasing power over time. In other words,
this is "dollar value" not adjusted for inflation. Nominal income is
the number of dollars received as wages, rent, interest or profits.
See also - Gross
Domestic Product (GDP), Consumer
Price Index (CPI). Non-Accelerating
Inflation Rate of Unemployment (NAIRU) - The theoretical
rate of unemployment below which inflation rises.
See also - Full
Employment. Nondurable Goods - Manufactured
items generally expected to last for less than three years.
North American Industry Classification System (NAICS) manufacturing industries considered nondurable includes food, beverages, clothing, shoes, paper, printing, petroleum, chemical and plastic products.
See also - Durable
Goods. Nonfarm Payroll
Employment - see Employment
(nonfarm payroll)
North American Industrial Classification System (NAICS)
- A system of identifying industry activity. NAICS was developed jointly by the
U.S., Canada, and Mexico to provide comparability in statistics
about business activity across North America. NAICS replaced the U.S.
Standard Industrial Classification (SIC) system.
See also - Industry.
O
Occupation - A collection of jobs with
similar duties (e.g., secretary, machinist, accountant, truck
driver), regardless of industry. Most occupations are found in more
than one industry.
See also - Occupation
Classifications. Occupation
Classifications - Systems of collective job descriptions
which attempt to place individual jobs into general, but
recognizable categories. Currently, three occupational
classifications systems are in general use in the U.S.: 1.
Standard Occupational Classification (SOC), 2. Occupational Information
Network (O*NET), and 3. Census occupational codes.
The SOC is used in employer wage surveys, conducted in every state in the U.S.,
and is found in many occupational wage publications. The O*NET,
based on the SOC, forms the taxonomy of the nation's primary source of occupational information.
See also -
Occupational Employment and Wage Survey (OEWS),
Occupational Employment and Wage Survey (OEWS)
- A federal state cooperative
program, which collects detailed occupational data by industry in a
three-year cycle. The Occupational Employment and Wage Survey (OEWS)
is a biannual mail survey measuring occupational employment
and occupational wage rates for wage and salary workers in nonfarm
establishments, by industry. On a national level, the survey samples
approximately 200,000 establishments in each of two semiannual panels, May and November, each year, taking 3 years to
fully collect the sample of 1.2 million establishments. The coding
system associated with this program, based on work performed and
occupational descriptions, is known as the Standard Occupational
Classification (SOC) codes.
Opportunity Cost - The amount of
something that must be given up or sacrificed to obtain something
else. For instance, if you choose to spend $50.00 on football
tickets, you give up the opportunity to buy a $50.00 savings bond,
so one of the opportunity costs of the football tickets is the
purchase and possible investment return of the savings bond.
P
Pay
Period - The accounting period an employer sets up to
systematically count employee hours worked in order to pay for work
done (earnings). This period of time will vary. Example: A bi-weekly
pay period counts hours for a two week period and remits "checks" to
employees
Payroll - Total
wages paid by a business to its employees for work performed during
the pay period (weekly, biweekly, monthly).
See also - Average
Annual Wage, Average
Weekly Wage.
Per Capita Personal
Income - Per capita personal income is the total amount of
income earned in specifically defined geographic region divided by
the population in that region.
Personal Income - An estimate of
total gross income that an individual receives from wages,
proprietor's income, rents, dividends, interest payments, and
transfer payments.
Poverty
Guidelines - Determined by the United
States Department of Health & Human Services to estimate what it
costs to minimally feed, cloth, and provide shelter for a family. Guidelines are adjusted each
year, and varies depending on the number of members in the
household. The most common quoted family size is four, but poverty guidelines give values for families from 1 to 8 persons and an amount for each additional person over 8.
Families with an income level below the guideline are
considered to be living in poverty. Poverty guidelines are based on poverty thresholds, updated each year by the U.S. Census Bureau. For more, go to Poverty Guidelines website.
Producer Price
Index - A family of indexes that measures the average change
over time in the selling prices received by domestic producers of
goods and services. PPI measures price changes from the perspective
of the seller. This contrasts with other measures, such as the
Consumer Price Index (CPI), that measures price changes from the
purchaser's perspective, and the Employment Cost Index, that
measures cost changes from an employer's perspective. Sellers' and
purchasers' prices may differ due to government subsidies, sales and
excise taxes, and distribution costs. PPI data are commonly used in
escalating purchase and sales contracts. These contracts typically
specify dollar amounts to be paid at some point in the future. It is
often desirable to include an escalation clause that accounts for
increases in input prices. For example, a long-term contract for
bread may be escalated for changes in wheat prices by applying the
percent change in the PPI for wheat to the contracted price for
bread. Other uses of PPI are as an economic indicator and as a
deflator of other economic series.
See also - Consumer
Price Index, Employment
Cost Index.
Productivity - Amount of output by
worker per unit of labor hours.
See also - Consumer
Price Index.
Q
Quarterly Census of Employment and Wages (QCEW)
(also called Covered Employment and Wages) - A Federal/State cooperative program, which collects and compiles
employment and wage data for workers covered by Vermont Unemployment
Insurance (UI) laws, and Federal civilian workers covered by
Unemployment Compensation for Federal Employees (UCFE). The QCEW
program extracts data from quarterly tax reports submitted to the
Vermont Department of Labor by employers subject to state
Unemployment Insurance (UI) laws and from Federal Agencies. These reports
provide the number of people employed each month and the gross wages
paid to all employees each quarter. The program was previously known as the ES-202.
See also - Employment (nonfarm payroll),
Employment (total).
Quarterly Workforce Indicators (QWI)
- The U.S. Census Bureau produces Quarterly Workforce Indicators thorugh the Longitudinal Employer-Household Dynamics (LEHD) program.
Eight indicators are published quarterly at
QWI Explorer.
Indicators available include employment, new hires, turnover, and average earnings.
They are available by state, substate area, year and quarter, industry, gender, and age group.
Vermont data is from 2000 to the latest quarter, released
about nine months after the end of the quarter. For more, go to LEHD Applications website.
R
Real Dollars/ Income
- To understand "Real Dollars/Income" one has to understand "Nominal
Dollars/Income." The adjective "nominal" describes the measurement
of Dollars or Income in current prices or buying power. The
adjective "Real," on the other hand, describes those same Dollars or
Income in constant prices but adjusted for inflation as to record
the real buying power of the Dollars or Income at a given point in
time.
Real Per Capita Personal
Income - Per capita personal income (pcpi) of an area after
adjusting for inflation.
See also - Per
Capita Personal Income. Recession - A recurring period of decline
in total output, income, employment, and trade, usually lasting from
six months to a year, and marked by widespread contractions in many
sectors of the economy.
See also - Unemployment
Rate, Gross
Domestic Product (GDP), and Per
Capita Personal Income.
S
Seasonal Adjustment
- A statistical process which removes the effect of typical seasonal
events such as summer breaks for school or weather-related
fluctuations in construction, lodging and ski areas. Data that have been
seasonally adjusted are more likely to reflect true changes in the
economy.
See also -
Seasonal Unemployment,
Employment (nonfarm payroll),
Employment (total), and
Unemployment Rate.
Seasonal Unemployment
- Unemployment associated with the rather predictable swings in employment and job seeking
that occurs at similar times each year. These seasonal events include opening and closing of schools,
seasonal changes in the weather reducing or expanding construction activities,
hotel/lodging demand, ski area activities, and other swings that follow a more or less
regular pattern each year.
See also -
Seasonal Adjustment,
Unemployment.
Service Providing Industries
- Those industries that primarily provide services. The Service Providing domain includes
Wholesale and Retail Trade, Transportation and Warehousing, Utilities, Information,
Finance and Insurance, Real Estate and Rental and Leasing, Professional and Technical Services,
Management of Companies and Enterprises, Administrative and Waste Services, Educational Services,
Health Care and Social Assistance, Arts and Entertainment and Recreation, Accommodation and Food Services,
Other Services except Public, and Public Administration (government).
See also - Goods Producing Industries.
Standard Industrial Classification (SIC)
- Replaced by the North American Industrial Classification System (NAICS).
Standard
Occupational Classification (SOC) - This is an occupational
coding system that was presented by the Bureau of Labor Statistics
(BLS) to replace and consolidate several previous coding systems
used to classify occupations. The coding systems being consolidated
include the Occupational Employment and Wage Survey (OEWS), the Dictionary
of Occupational Titles (DOT), and the grouping of occupational
titles used by the Census based on survey responses. The new
standardized SOC codes were released by the BLS in 1998, but to
minimize complications the system is being phased in slowly, and
will be fully implemented in 2005 when publications are available
based on the 2000 census.
See also - Occupational
Employment and Wage Survey (OEWS).
Statistically Valid
- Data that includes accurate collection and sampling
methods and a period of reference, using generally accepted
statistical methods.
Structural Unemployment -
Unemployment caused by a long-term change in the economic structure
of an area. This unemployment tends to be long-term in nature as it
results from the general problem of skill and location mismatches
between jobs and workers.
See also - Unemployment.
T
Technological Unemployment
- A form of structural unemployment created by
the substitution of automated equipment for labor, or by changing
technologies.
See also - Unemployment.
Trend
- A pattern of that demonstrates a direction and/or statistical
tendency.
Turnover Rate
- The rate at which a firm replaces workers. The
associated productivity costs, along with the overhead costs
associated with recruiting and training replacement staff can be
substantial.
See also -
Labor Force Turnover Rate.
U
Unemployed
- Persons 16 and over who had
no job at all during the week which includes the 12th day of the
month, had taken some specific steps to obtain a job within the
prior month, and were available for work, expecting recall from a
layoff, or waiting to begin new employment within 30 days. Persons
not in the labor force, including so-called discouraged workers, are
distinguished from the unemployed by the fact that they are not
actively seeking work.
See also -
Local Area Unemployment Statistics,
Unemployment Rate.
Unemployment
- A situation that exists
when members of the non-institutional civilian labor force wish to
work but cannot find a job. It is considered an involuntary
situation instead of one in which persons voluntarily choose leisure
over work. There are several types of unemployment categorized by
their uses and characteristics. They are:
cyclical unemployment,
frictional unemployment,
seasonal unemployment,
structural unemployment, and
technological unemployment.
See also - Unemployment Rate.
Unemployment
Compensation for Federal Employees (UCFE) - A program to
provide Unemployment Insurance (UI) benefits to individuals whose
salary/wages were earned in Federal civilian employment.
Unemployment
Insurance - A term used to describe either the government
program, the actual benefits received by unemployed workers, or
the Vermont Department of Labor staff who assist unemployed
workers to file for and receive their unemployment insurance
benefits (checks).
Unemployment Rate
- The percent of the non-institutional civilian labor force which is currently
unable to find employment, but which is actively seeking employment.
It is calculated by dividing the number of unemployed by the number
in the labor force at a given point in time. This is NOT the
percentage of the population who are unemployed, but rather an
estimate of the percentage of those who want to work, are able to
work, and are actively seeking work but are unable to find
employment.
See also -
Local Area Unemployment Statistics,
Unemployed, and
Seasonal Adjustment.
Unit Labor Costs
- Unit labor costs - the cost of labor input required to produce one unit of
output - are computed as the ratio of labor costs in nominal terms
divided by real output. Unit labor costs - the cost of labor input
required to produce one unit of output - are computed as the ratio
of labor costs in nominal terms divided by real output.
See also - Employment
Cost Index, Producer
Price Index.
W
Workforce Information (also
called Labor Market Information) - The body of data available on a
particular labor market, including employment and unemployment
statistics, occupational statistics, and average hours and earnings
data.
Workforce Investment Act
(WIA) - The WIA reforms Federal job training programs and
creates a new comprehensive work force investment system.
Streamlines services through the One-stop delivery system. Programs
and providers will co-locate, coordinate, and integrate activities
and information.
See also - Workforce Investment Board (WIB).
Workforce Investment Board (WIB)
- Each of the thirteen Workforce Investment Boards are made up of partner agencies,
business employers and labor boards. By law these regional boards are made up of at least 51
percent employers. The responsibilities of the WIB are to focus on
strategic planning, policy development and oversight of the local
work force investment system. The WIBs are overseen by the Human Resources Investment Council (HRIC).
See also - Workforce Investment Act.
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