Sunday, June 9, 2013

Wages & Me- Interactive Tutorial

The Effect of Supply & Demand on Wages


1. What occupation did you choose?

  • Financial Manager


2. Was the job description listed for your chosen profession?
  • Plan, direct, or coordinate accounting, investing, banking, insurance, securities and other financial activities of a branch, office or department of an establishment.
3.  About how many Americans are employed in that occupation?
  • 484, 910
4. What is the mean annual wage for that occupation?
  • $123,260
5. What is the annual wage rate for the lowest-paid ten percent of workers in that occupation?
  • $59,630
6. What is the annual wage rate for the highest-paid ten percent of workers in that occupation?
  • Equal or greater than 187, 199
7. Find the mean annual income for that occupation for residents in your state.
  • 135,760
8. How does your state's mean annual income for that occupation compare to the national mean income for that occupation?
  • It is greater by 12,500
9. If there is a difference, what do you think is the primary reason for that difference?
  • The cost of living in DC is high compared to the national level. This may explain the increase in mean annual income compared to the rest of the nation.
10. Will you stay in your state for your career, or do you think you will move away? Why?
  • I believe it is best for me to stay in DC for my career because out of all states, it has the highest concentration of jobs and location quotients in this occupation. 

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