Understanding Labor Market Information

Labor Market Info

Statistics:
US Department of Labor (2005)
& US Census Bureau (2000)

Understanding Labor Market Information is key to making an informed decision about where to live and what career path to take.

Consideration should be given to the area’s cost of living as it compares to wages earned.

For instance, a better salary in a metropolitan area may actually provide less relative income when the higher costs of food, entertainment, transportation, utilities and housing are factored in.

(See the example above, which compares the average salary of construction contractors as well as the median value of housing in NYC and Chenango County.)

Labor trends should also be given due consideration. Industries thatExpert Opinions – Local Labor Trends are downsizing or relocating are less likely to sustain employment than those that are in a growth mode.

For an excellent barometer of the 4-counties’ employment prospects and projections by industry, visit the New York State Department of Labor’s “Workforce New York” web site:

www.labor.state.ny.us
and click on Workforce & Industry Data.