Thursday, August 12, 2010

Industry vs. Occupation - Trendlines

Labor market economists often talk about jobs in terms of occupations (the outlook, wages, etc.) but also in terms of industries.

Often, these two things are confusing to non-economist types, so an article in the current issue of Trendlines clarifies the difference and why it's good to look at both sides of the jobs coin to understand what's going on in the economy.

It's an important distinction, since occupations often spread across many industries. Think about accountants. Every industry hires accountants, but the wages and outlook can vary quite a bit, depending on the industry the accountant is working in. So, a savvy economy watcher will want to be educated about industry vs. occupations.

Trendlines can be read on-line at http://jobs.utah.gov/wi/pubs/trendlines/julaug10/index.html.

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