Labor
Demand – An estimate of the number of
job opportunities which exist and will occur over a given period of
time.
[See also -
Labor Supply]
Labor Dispute
– Any controversy
concerning terms or conditions of employment, or concerning the
association or representation of persons in negotiating, fixing,
maintaining, changing, or seeking to arrange term for conditions of
employment, regardless of whether or not the disputants stand in the
proximate relation of employer and employee.
Labor Force – The civilian
labor force comprises the total of all civilians age 16 or older
classified as employed and unemployed.
Labor Force
Participation Rate – The
proportion of the total civilian non–institutional population 16 years
or older, or of a demographic subgroup of that population classified
as "in the labor force."
Labor Market
Analysis –
The
measurement and evaluation of economic forces as they relate to the
employment process. There are many variables affecting labor,
geography, and demand–supply relationships, including such factors as
population growth and characteristics, industrial structure and
development, technological developments, shifts in consumer demands,
volume and extent of unionization and trade disputes, recruitment
practices, wage levels and conditions of employment, and training
opportunities.
Labor Market Area (LMA) – An economically integrated geographical unit within which workers may readily change jobs without changing their place of residence. All states are divided into exhaustive LMA’s, which usually consist of (except in New England) a county or a group of contiguous counties.
[See also -
Metropolitan Area]
Labor Market Information (LMI) –
LMI is a body of knowledge
that describes the nature, characteristics, and operation of those
mechanisms, institutions, and participants involved in the matching of
labor supply with demand. LMI is made up of a variety of
economic, social, and demographic information that describes current
conditions and forecasts conditions at a future date. LMI
includes data on population, labor force, occupations, general
economic trends, and careers and has many planning uses. The
information can be used to determine policy and program needs, to
allocate resources, and to establish program performance standards.
Labor
Productivity – The value
of goods and services in constant prices produced per hour of labor
input.
[See also -
Business Cycle]
Labor Supply –
The number of persons
employed and unemployed plus those that would seek employment if they
believed jobs were available. Generally, this term has been
applied to those who are unemployed.
Labor Surplus Area –
This is defined under the Defense Manpower Policy No. 4A as an area with at least 120 percent of the national unemployment rate.
Once labeled as such, federal procurement contract money is directed
to that area for those in the most severe economic need. Area
employers then receive preference in binding on federal contracts.
Laborshed
–
The
area or region from which an employment center draws its commuting
workers regardless of natural or political boundaries.
Laborshed Studies
–
A
research survey which addresses the availability and willingness of
current and prospective employees to change employment within an
employment center, the current and desired occupations, wages, hours
worked, distances willing to commute for employment opportunities as
well as underemployment and out–commuting patterns.
Layoff –
Suspension from pay by the
company for reasons such as lack of orders, plant breakdown, shortage
of materials, or termination of seasonal or temporary employment, etc.
Local Area Unemployment Statistics (LAUS) – The federal/state cooperative program under
which employment and unemployment estimates for states and local areas are developed. These estimates are prepared by state employment security agencies in accordance with
Bureau of Labor Statistics definitions and procedures. They are used for planning and budgetary purposes, as an indication of need for employment and training programs, and to allocate federal funds under
the Workforce Investment Act (WIA), Federal Emergency Management
Agency (FEMA), etc.
Location Quotient (LQ)
– This is a measure of an area’s share –
or the concentration – of activity as compared to a larger geographic
area. An LQ of one means that an area has its share of activity and
will likely be importing or paying lower-than-average wages. An LQ of
greater than one shows that an area has more than its share of
activity, is highly competitive, is likely to be exporting more than
it imports, and may have higher than average wages.
Alphabetical Glossary
Listing
Glossary
References
Main Menu
Iowa Workforce Information Network (IWIN)
