Lesson 6: The Long Island Job Economy
Directions: Watch the video. It will give you an overview of why it is important to know which jobs are available on Long Island. This video will also show you how to get to the data that we will be looking at.
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Local Labor Market Data
State Labor Market Data
National Labor Market Data
Terms You Might Not Know From The Document That We Are Studying:
Here are 40+ difficult terms and their definitions from the document:
- Nonfarm Jobs: Jobs that exclude workers in farming, agriculture, and related activities. It generally includes industries such as services, manufacturing, and government.
- Private Sector Jobs: Jobs that are provided by private businesses and organizations, not the government.
- Professional & Business Services: A sector that includes jobs in law, accounting, management, and other business support services.
- Trade, Transportation & Utilities: An industry sector encompassing businesses involved in trade (retail and wholesale), transportation (moving goods and people), and utilities (electricity, water, and gas services).
- Leisure & Hospitality: An industry sector comprising jobs in arts, entertainment, recreation, accommodation, and food services.
- Financial Activities: Jobs related to financial transactions, such as banking, insurance, real estate, and investment.
- Natural Resources, Mining & Construction: This sector includes industries involved in extracting natural resources and constructing infrastructure or buildings.
- Initial Claims for Regular UI: The first-time applications for unemployment insurance benefits, signaling a loss of employment.
- Unemployment Insurance (UI): A government-provided financial support system for individuals who lose their jobs involuntarily.
- Unemployment Rate: The percentage of the labor force that is unemployed but actively seeking employment.
- Workshare Programs: Programs that allow workers to keep their jobs and receive partial unemployment benefits when their hours are reduced instead of being laid off.
- Restore New York Communities Initiative: A state-funded program aimed at revitalizing and redeveloping local communities by removing blight and creating new opportunities.
- Diversity Index: A measure that indicates how diverse a population is in terms of racial and ethnic groups.
- Quarterly Census of Employment and Wages (QCEW): A report that provides data on employment and wages across various industries based on quarterly employer surveys.
- Onshore Construction: Building activities that take place on land, as opposed to offshore projects which occur in bodies of water.
- Offshore Wind Project: A renewable energy initiative involving the construction of wind turbines in bodies of water to generate electricity.
- Public Education and Public Health Services: Government-funded services that provide education and healthcare to the public.
- Suffolk County Industrial Development Agency (IDA): A local government agency that provides financial incentives to encourage business development and retention.
- Cybersecurity Incident: A breach or attack on a company’s digital systems that compromises its data and operational integrity.
- WARN Filing: A required notification by companies that plan to lay off a large number of workers, in compliance with the Worker Adjustment and Retraining Notification (WARN) Act.
- Blight: The condition of urban decay where a property or area becomes dilapidated, negatively affecting the surrounding neighborhood.
- Mixed-Use Building: A structure that combines different types of uses, such as residential, commercial, cultural, or industrial, all in one.
- Utility-Scale Offshore Wind Farm: A large-scale wind energy project located offshore that generates significant amounts of electricity for utility companies.
- Net Change: The overall change in a particular variable (such as employment or population) over a specific period, taking both gains and losses into account.
- NYSERDA (New York State Energy Research and Development Authority): A public agency in New York responsible for promoting energy efficiency, renewable energy, and innovation in energy technology.
- Demographics: Statistical data about the characteristics of a population, such as age, race, gender, income, and education.
- Unclassified Jobs: Jobs that do not fit into the standard occupational categories or are not easily classifiable.
- Nassau-Suffolk Metro Division: A metropolitan region comprising Nassau and Suffolk counties on Long Island, often considered for labor market and economic data.
- Population Estimates Program: A program by the U.S. Census Bureau that provides annual estimates of the resident population by demographic characteristics like age, sex, race, and ethnicity.
- Empire State Development: New York State’s economic development agency, which provides support for business growth, job creation, and community revitalization.
- Public Sector Jobs: Employment provided by government institutions, including federal, state, and local government agencies.
- Reinvigorate: To give new energy, strength, or vitality to something, often used in the context of community or economic redevelopment.
- Labor Force Areas: Specific regions where people are either employed or actively seeking employment, often used in economic and labor market analysis.
- Clawback: The process by which benefits or incentives given to companies are taken back if certain agreed-upon conditions (such as job retention) are not met.
- Economic Conditions: The state of the economy in a particular region or sector, which affects employment, business activity, and consumer behavior.
- Cybersecurity Incident Response: A plan or set of actions undertaken by a company when its digital systems have been attacked or breached, aiming to contain the damage and restore security.
- Layoff: A temporary or permanent separation of an employee from their job, usually for economic reasons or business restructuring.
- Size Class: A classification that groups firms or businesses based on the number of employees they have, used in labor and economic analysis.
- Regular Unemployment Insurance Programs: Government programs that provide financial assistance to individuals who have lost their jobs through no fault of their own.
- Direct Jobs: Jobs that are directly created by a project or company, as opposed to indirect jobs which are created through related industries or supply chains.
- Industry Sectors: Our economy can be split up in to different industries (types of businesses). When you see "industry sectors" you can say "types of businesses" instead.
- Diversity: The presence of a wide range of differences within a group, including variations in race, ethnicity, gender, age, culture, abilities, and perspectives.