Michael Smith

 

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Purpose of Assignment 

The purpose of this assignment is so students may look at the microeconomic data and other sources for better understanding of trends and determinants of the labor market. 

We will look at the microeconomic data and other sources for better understanding of trends and determinants of the labor market. The Bureau of Labor Statistics (BLS) website provides public with an easy access to different statistical tools and different types of data presentation. 

Assignment Steps 

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Select one of the following surveys as a team, from the

BLS Current Employment Statistics survey (National)

  • Manufacturing Employment – CES3000000001

Retrieve and save a Microsoft® Excel® file and the graphs to your desktop for analysis. You will have to check the “include graph” box along the top of the page to see the graph, and you will need to copy and paste the graph separately into your Microsoft® Excel® document. 

Tutorial help on Excel® and PowerPoint® functions can be found on the Microsoft® office website. There are also additional tutorials via the web that offer support for office products. 

Consider the following two articles, located in the

Week 4 Electronic Reserve Readings

, discussing actor salaries and hedge fund executives’ average salaries:

  • “Robert Downey Junior is Hollywood’s Highest-Paid Actor”
  • “In Tough Year, Hedge Fund Leaders Still Paid Well: Average Salary of $467M Was Half 2013, Report Says” 

Prepare and present a 1- to 2-slide Microsoft® PowerPoint® presentation-analysis.

Include the following content in the presentation:

  • What factors affected the demand and supply for this labor group during the last 10 years? Research and report data available from Bureau of Labor Statistics (BLS) and other peer reviewed sources.
  • What jobs do you think have the best mix of salary and other characteristics that individuals care about?

Cite a minimum of one peer-reviewed source, not including the textbook and required economic data. 

Format consistent with APA guidelines. 

BLS Data Series

Manufacturing

s:

to

Year

2008

11453

11960

12000

2014

12354 12336

12340

2018

Employment, Hours, and Earnings from the Current Employment Statistics survey (National)
Original Data Value
Series Id: CES3000000001
Seasonally Adjusted
Series Title: All employees, thousands, manufacturing, seasonally adjusted
Super Sector: Manufacturing
Industry:
NAICS Code:
Data Type: ALL EMPLOYEES, THOUSANDS
Year 2008 2018
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
13725 13696 13659 13599 13564 13504 13430 13358 13275 13147 13034 12850
2009 12561 12380 12208 12030 11862 11726 11668 11626 11591 11538 11509 11475
2010 11460 11453 11489 11525 11545 11561 11553 11563 11562 11585 11595
2011 11621 11654 11675 11704 11713 11727 11746 11764 11769 11780 11770 11802
2012 11838 11860 11898 11916 11927 11936 11964 11960 11954 11961 11950
2013 11983 11996 11999 12000 12004 11984 1

2014 12032 12056 12079 12083
12082 12105 12121 12135 12147 12171 12190 12206 12224 12256 12282 12291
2015 12296 12301 12313 12318 12336 12340 12355 12346 12345 12358 12354 12360
2016 12384 12367 12348 12357 12371 12347 12337 12339 12351
2017 12369 12390 12400 12410 12414 12428 12424 12463 12469 12489 12519 12540
: * preliminary
12555
: * preliminary

Bureau of Labor Statistics

Source: Bureau of Labor Statistics Generated on: February 10, 2018 (01:46:12 AM)

Sheet1

Employment, Hours, and Earnings from the Current Employment Statistics survey (National)
Series Id:     CES3000000001
Seasonally Adjusted
Series Title:  All employees, thousands, manufacturing, seasonally adjusted
Super Sector:  Manufacturing
Industry:      Manufacturing
NAICS Code:    –
Data Type:     ALL EMPLOYEES, THOUSANDS

Robert Downey Junior is Hollywood’s highest-
paid actor
Calnan, Marianne . Employee Benefits ; London (Aug 7, 2015).

ProQuest document link

FULL TEXT
 

Something for the weekend…

Robert Downey Junior has been named Hollywood’s highest-paid actor by Forbes magazine, with average earnings

of Pounds 51.2 ($80) million per film.

Also topping the list are Jackie Chan, Vin Diesel, Bradley Cooper and Adam Sandler.

The top 15 highest-paid actors are:

1. Robert Downey Junior (pictured): Pounds 51.2 million.

2. Jackie Chan: Pounds 32 million.

3. Vin Diesel: Pounds 30 million.

4. Bradley Cooper: Pounds 26.5 million.

5. Adam Sandler: Pounds 26.2 million.

6. Tom Cruise: Pounds 25.6 million.

7-joint. Amitabh Bachchan and Salman Khan: Pounds 21.4 million.

9. Akshay Kumar: Pounds 20.8 million.

10. Mark Wahlberg: Pounds 20.5 million.

11. Dwayne Johnson (‘The Rock’): Pounds 20.1 million.

12. Johnny Depp: Pounds 19.2 million.

13-joint. Leonardo Di Caprio and Channing Tatum: Pounds 18.5 million.

15-joint. Daniel Craig and Chris Hemsworth: Pounds 17.3 million.

At Employee Benefits, we are wondering if employers will follow suit and introduce salaries in line with those of

Hollywood and Bollywood’s biggest stars, even if we do lack their acting ability…

Credit: Marianne Calnan

DETAILS

Publication title: Employee Benefits; London

Publication year: 2015

Publication date: Aug 7, 2015

Section: News

Publisher: Centaur Communications Ltd.

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Place of publication: London

Country of publication: United Kingdom, London

Publication subject: Business And Economics–Personnel Management

ISSN: 13668722

Source type: Trade Journals

Language of publication: English

Document type: News

ProQuest document ID: 1747604844

Document URL: https://search.proquest.com/docview/1747604844?accountid=35812

Copyright: Copyright 2015 Centaur Media Plc. and licensors

Last updated: 2015-12-11

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  • Robert Downey Junior is Hollywood’s highest-paid actor
  • In tough year, hedge fund leaders still paid well
  • Pfeiffer, Sacha; Healy, Beth . Boston Globe ; Boston, Mass. [Boston, Mass]08 May 2015: C.3.

    ProQuest document link

    ABSTRACT
     

    The Massachusetts state pension fund has 9 percent of its $61 billion in hedge funds, even as the nation’s largest

    public pension fund, the California Public Employees’ Retirement System, last year said it would exit the sector

    entirely.

    FULL TEXT
     

    In the hedge fund world, even a mediocre year can be a very lucrative one.

    Last year, the world’s top 25 hedge fund managers earned roughly half their 2013 income and the smallest amount

    since the 2008 financial crisis. But that still translated into astronomical paychecks: their collective income was

    $11.6 billion.

    Consider the estimated 2014 paycheck for Jonathon S. Jacobson, founder of Boston-based Highfields Capital

    Management. The former Harvard University endowment manager accustomed to rock star status in his field

    made $50 million, according to an annual list published this week by Institutional Investor’s Alpha, a trade

    publication.

    Jacobson’s compensation may seem spectacular, but it amounted to just one-tenth of the $500 million he is

    estimated to have made the previous year. And Highfields, which manages $12.5 billion, produced a percentage

    return only in the low-single-digits.

    Among the top 25 hedge fund managers, the average pay was $467 million last year, down from $846 million in

    2013, according to Institutional Investor’s calculations. Three earned more than $1 billion last year. Jacobson just

    barely made the top 50, coming in last on the list.

    The only other Massachusetts investor on the roster was Seth Klarman, chief executive of Baupost Group, one of

    Boston’s largest hedge fund firms, with $28.5 billion under management. Klarman ranked number 26, with

    estimated pay of $170 million last year.

    Klarman is considered a value investor who looks for bargains and unusual investments. As energy investments

    tanked last year, for instance, Baupost started looking for deals, according to a Bloomberg News

    report.

    The firm delivered returns of 7 to 8 percent last year, according to a person briefed on the results.

    That may sound modest to ordinary investors, who typically gauge their returns against the Standard &Poor’s 500

    index of large stocks, which rose 13.7 percent last year. But that’s not the only measuring stick many hedge fund

    clients use.

    Industrywide, the average hedge fund return last year was 2.9 percent, according to the Barclay Hedge Fund Index,

    which gathers data from thousands of firms. Within that universe hedge fund managers produce varying results

    with many approaches, from betting that stocks will rise or fall to investing in bonds, commodities, market sectors,

    and numerous other styles. Many of those funds struggle in periods when stocks are rising sharply.

    “The equity market has been having quite a nice run. Almost anything that diversifies away from that will be lower

    [in returns] by definition,” said Robert J. Waid, a managing director at Wilshire Associates Inc., a Santa Monica,

    Calif., investment consulting firm.

    Historically, many hedge fund managers have become famous, and wealthy, with aggressive strategies that

    https://search.proquest.com/docview/1679357720?accountid=35812

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    produced big returns. Investors have been willing to pay their large fees — typically, 2 percent of assets plus 20

    percent of profits — in the search for substantial gains.

    But many institutional investors, like pension funds and endowments, allocate a portion of their money to hedge

    funds for an entirely different reason: to protect them when the market falls.

    The Massachusetts state pension fund has 9 percent of its $61 billion in hedge funds, even as the nation’s largest
    public pension fund, the California Public Employees’ Retirement System, last year said it would exit the sector

    entirely.

    Michael Trotsky, executive director of the Massachusetts fund and a former hedge fund executive himself, said he

    looks for hedge fund returns to come out somewhere between those of bonds and stocks. More than anything, he

    wants them to be less risky than stocks.

    “Hedge funds are not as volatile as stocks — or as the S&P 500 — nor should they have the same returns,” Trotsky

    said.

    He said there are some “great hedge funds” that don’t go up and down in ways tracking stock market performance.

    “We’re willing to pay for that,” Trotsky said.

    The Institutional Investor’s rankings, now in their 14th year, are estimates based on such factors as the hedge

    funds’ rate of return and the fees they charge investors. Neither Klarman nor Jacobson would comment on the

    report.

    Despite last year’s relatively low return numbers, investors are still putting money in hedge funds because they

    think they’ll outperform other investors over time, according to Institutional Investor’s editor, Michael Peltz.

    “They’re looking at net returns after fees,” Peltz said. “And more often than not, these top managers over time have

    net returns better than the overall market.”

    Sacha Pfeiffer can be reached at pfeiffer@globe.com. Follow her on Twitter at @SachaPfeiffer.

    Credit: By Sacha Pfeiffer and Beth Healy Globe Staff

    Illustration

    Caption: Michael Trotsky (right), head of the Massachusetts pension fund, said he looks for hedge fund returns to

    come out somewhere between stocks and bonds. Aram Boghosian for the Boston Globe/File 2010

    DETAILS

    Subject: Hedge funds; Investment advisors; Pension funds; Institutional investments; Stock

    exchanges

    Location: Massachusetts

    Publication title: Boston Globe; Boston, Mass.

    Pages: C.3

    Publication year: 2015

    Publication date: May 8, 2015

    Section: Business

    Database copyright  2018 ProQuest LLC. All rights reserved.
    Terms and Conditions Contact ProQuest

    Publisher: Boston Globe Media Partners, LLC

    Place of publication: Boston, Mass.

    Country of publication: United States, Boston, Mass.

    Publication subject: General Interest Periodicals–United States

    ISSN: 07431791

    Source type: Newspapers

    Language of publication: English

    Document type: News

    ProQuest document ID: 1679357720

    Document URL: https://search.proquest.com/docview/1679357720?accountid=35812

    Copyright: (c) The Boston Globe May 08, 2015

    Last updated: 2017-11-22

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      In tough year, hedge fund leaders still paid well

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