When thinking about the labor market, you might envision large corporations and small businesses made up of thousands upon thousands of jobs–plus salaries, hourly pay, taxes, etc. But it’s important to remember that those corporations and businesses are part of a broader grouping: industries. And industry data is at the heart of labor market information.
When COVID-19 began to ravage the US economy in mid-March, unemployment skyrocketed. Many jobs not considered “essential” to the economy, and without remote capabilities, were suddenly erased. And while the unemployment figures across the country are a testament to the virus’s sweeping, all-inclusive damage, the community impact on individual cities and regions remains unique. […]
The story the numbers tell is one full of promise: cities of all sizes and locations possess a unique mix of regional strengths, with a wide array of industries and occupations that they would be particularly suited to develop.
From Madison, WI, to Elkhart, IN, which metros are the most and least diverse? New rankings, research, and a Nevada success story demonstrate the impact diverse economies have on long-term success.
With a 2012 workforce of more than 5 million people, New York City’s five boroughs are a larger economy than many of the world’s countries. They’re also a perfect case study of how to put labor market data in context, by looking at the effect unusually high-earning New Yorkers have on the economy.
In almost every province of Canada, the utilities sector is one of the highest-paying sets of industries in the economy, and Ontario is no exception to this trend. Here’s a look at how jobs in the electric power generation sector are doing.