Sample exercise: Evaluate economic factors of an employment opportunity for two different locations within the U.S.
Getting Started
Be sure to check the print sources in the LRC. Many LRC collections include the Statistical Abstract of the United States, the Occupational Outlook Handbook and various County and State Data Books. These resources are also available online through the Virtual Library (see next page of tutorial).
Some useful definitions:
Consumer Price Index
The Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. (United States Bureau of Labor Statistics)
Cost-of-Living
The average that a person or family pays for such necessary goods and services as food, clothing, and rent. (Random House Webster’s College Dictionary, 2nd ed., 1997)
Resources for Cost-of-Living Information
GATHERING ONLINE STATISTICAL INFORMATION
To begin the search for statistical information in the Virtual Library:
Select Reference Resources from the Main Menu of the library.
Select Statistics.
This site provides Web access to the County and City Data Book published by the U.S. Census Bureau.
Select FedStats
From the FedStats homepage, select AGENCIES, then BUREAU OF LABOR STATISTICS. The Bureau of Labor Statistics homepage features "Economy at a Glance" which provides economic statistics for over 260 metropolitan areas as well as statistics for broader geographic areas. Ten years of historical data are available. This site provides detailed information about the Consumer Price Index (CPI).
This publication contains a collection of statistics on social and economic conditions in the U.S. Topics relevant to cost-of-living include population, earnings, prices, and construction and housing.
LOOKING FOR ADDITIONAL ONLINE INFORMATION
To begin the search for additional online information, click on the links below:
This U.S. Bureau of Labor Statistics Web site provides access to news releases, earnings data, state occupational employment projections, and publications including Occupational Outlook Quarterly and Career Guide to Industries.
This publication describes earnings and expected job prospects in a wide range of occupations.
Other useful Web sites for cost-of-living information:
This site offers city profiles, cost-of-living and salary calculators, school statistics, crime rates, and climate profiles for many cities.
Federal Reserve Bank of Minneapolis: What is a dollar worth?
This site has has an interactive calculator which can be used to compare the CPI (Consumer Price Index) between any two years between 1913 and 2000.
This annual report ranks cities and towns according to strength of economy, quality of schools, and cultural and recreational opportunities.
Use this site to compare cost-of-living, real estate, and quality of life between two cities. City rankings for categories such as job growth, commute time, property tax rates, and utility costs are also available.