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Real-time labor-market information (LMI) is the generation of data on labor demand from open Internet sources. Real-time feeds give an immediate view into conditions that trades precision for currency. Because real-time labor market information is scraped from employer, industry organizations, recruiters and job boards and interpreted using ...
Real wages. Real wages are wages adjusted for inflation, or, equivalently, wages in terms of the amount of goods and services that can be bought. This term is used in contrast to nominal wages or unadjusted wages. Because it has been adjusted to account for changes in the prices of goods and services, real wages provide a clearer representation ...
The Bureau of Labor was established within the Department of the Interior on June 27, 1884, to collect information about employment and labor. Its creation under the Bureau of Labor Act (23 Stat. 60) stemmed from the findings of U.S. Senator Henry W. Blair's "Labor and Capital Hearings", which examined labor issues and working conditions in the U.S. [6] Statistician Carroll D. Wright became ...
Nonfarm productivity, which measures hourly output per worker, increased at a 2.5% annualized rate last quarter, the Labor Department's Bureau of Labor Statistics said on Thursday. That was an ...
Service Labor Time Standards (SLTS) are used by automotive manufacturers to determine the time required to repair a particular malfunctioning part on one of their automobiles. The SLTS is the benchmark for other aftermarket repair facilities to determine how much to charge customers when they have their vehicle repaired. These times were all in ...
Labor market area. A labor market area is a geographic area or region defined for purposes of compiling, reporting, and evaluating employment, unemployment, workforce availability, and related topics. It can be defined as an economically integrated region within which residents can find jobs within a reasonable commuting distance or can change ...
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