Why Are Some Occupations Paid More Than Others?

Purpose of Assignment 

The purpose of this assignment is so students may look at the microeconomic data and other sources for better understanding of trends and determinants of the labor market. 

We will look at the microeconomic data and other sources for better understanding of trends and determinants of the labor market. The Bureau of Labor Statistics (BLS) website provides public with an easy access to different statistical tools and different types of data presentation. 

Assignment Steps 

Select one of the following surveys as a team, from the BLS Current Employment Statistics survey (National)

  • Goods-producing Employment – CES0600000001

Consider the following two articles, located in the Week 4 Electronic Reserve Readings, discussing actor salaries and hedge fund executives’ average salaries:

  • “Robert Downey Junior is Hollywood’s Highest-Paid Actor”
  • “In Tough Year, Hedge Fund Leaders Still Paid Well: Average Salary of $467M Was Half 2013, Report Says” 

Campus Classes: Prepare a 5- to 8-slide Microsoft® PowerPoint® presentation based on your analysis to share in class. 

Include the following content in the presentation:

  • What are trends in the labor market for the chosen labor group that you can identify for the last 10 years? Please provide the retrieved statistics.
  • What factors affected the demand and supply for this labor group during the last 10 years? Research and report data available from Bureau of Labor Statistics (BLS) and other peer reviewed sources.
  • Why do actors and actresses earn so much compared to the chosen labor group?
  • Why do hedge fund executives earn so much compared to the chosen labor group?
  • In addition to wages, what other factors influence an individual to choose one job over another?
  • What jobs do you think have the best mix of salary and other characteristics that individuals care about?

Cite a minimum of three peer-reviewed sources, not including the textbook and required economic data. 

Format consistent with APA guidelines. 

Click the Assignment Files tab to submit your assignment.

Why Are some occupations paid better than others?

ECO /365

Justin Lavinder

Timothy Ramos

Luis Garcia

Data extracted on: September 8, 2017 (11:21:36 PM)

Employment, Hours, and Earnings from the Current Employment Statistics survey (National)

Series Id: CES0600000001

Seasonally Adjusted

Series Title: All employees, thousands, goods-producing, seasonally adjusted

Super Sector: Goods-producing

Industry: Goods-producing

NAICS Code: –

Data Type: ALL EMPLOYEES, THOUSANDS

YearJanFebMarAprMayJunJulAugSepOctNovDec
2007224392233422391223502232322323222772216522093220562201521976
2008219472189721820216812159921483213602125021101208952062320322
2009198891957519227188941865518422182781815118043179151786917792
2010177071762717672177291774217763177771779317787178011782717796
2011177841784417906179571800718045180941812018167181881818718244
2012183041833418372183841838618411184471845918461184721847718532
2013185721865018668186601869318724187021876018809188511890018881
2014189471899419052191141915019196192561931119360194021944219477
2015195211954219530195601959119603196271962419614196561968819730
2016197541974719752197431969919705197311970719718197271976219794
20171984519933199501996919982200242004720117

•What are trends in the labor market for the chosen labor group that you can identify for the last 10 years?

What factors affected the demand and supply for this labor group during the last 10 years?

Why do actors and actresses earn so much compared to the chosen labor group?

Why do hedge fund executives earn so much compared to the chosen labor group?

In addition to wages, what other factors influence an individual to choose one job over another?

What jobs do you think have the best mix of salary and other characteristics that individuals care about?

get_data

excelTable

default

false

CES06000

true

specific_ye

comma

multi

all_periods

data

2017

2007