Vocational experts administer evaluations aimed to assess an individual’s current and future employability and wage earning capacity. One part of the vocational evaluation is conducting and interpreting labor market research. The market research focuses on earnings, qualifications, and training requirements for specific job titles in an applicable geographical area. The expert then determines which of these jobs the evaluee may be capable of performing. The information is collected from vast national, state, and local job market data resources.
Each state’s Department of Labor conducts a census in order to collect detailed and timely labor market data on state, county and sub county levels. These surveys provide valuable input for wage comparisons and for identifying trends in emerging or declining occupations. New Jersey uses the Occupational Employment Statistics Wage Survey, which is filled out by employers, and is conducted every 3 years. The resulting published reports are very thorough, detailing where people work, where workers live, workers’ ages and earnings, industry distribution, and local workforce indicators. Survey results also provide dynamic information on the changing economy, where jobs are being created and destroyed, how much turnover there is in each industry, and long-term trends.
On a national level, the Bureau of Labor Statistics (BLS) of the U.S. Department of Labor is the principal Federal agency responsible for measuring labor market activity and working conditions in the economy. The BLS is responsible for the publication of the estimates that State employment security agencies prepare. Each month, the BLS Current Employment Statistics program surveys about 144,000 businesses and government agencies, representing approximately 554,000 individual worksites, in order to provide detailed industry data on employment, hours, and earnings of workers on non-farm payrolls for all 50 States, the District of Columbia, Puerto Rico, the Virgin Islands, and about 400 metropolitan areas and divisions.
The Local Area Unemployment Statistics (LAUS) program is a Federal-State cooperative effort in which monthly and annual employment, unemployment, and labor force data for census regions and divisions, states, counties, metropolitan areas, and many cities.
These are just a few of the major sources used to assess the labor market and local economic conditions. Federal programs use the data to determine how much money to allocate to States. State and local governments use the estimates for planning and budgetary purposes and to determine the need for local employment and training services. Vocational experts and other private industry professionals use the data to assess localized labor market developments and make comparisons across areas.
The vocational experts at Occupational Assessment Services have been studying labor market research for over forty years. We have conducted vocational evaluations for clients across the nation, and even Europe, South American, Asia, and Mexico. Our experience allows us to use, apply and understand labor market data and funnel it down to the most particularized effective information to help individual clients. Contact us at 800-292-1919 to discuss how a vocational evaluation can help assess accurate damages for your case.