labor market statistics and job bank

labor market statistics and job bank Sec. 312. (a) The Secretary shall develop a comprehensive system of labor market information on a national. State, local, or other appropriate basis, which shall be made publicly available in a timely fashion. (b) In addition to the monthly national unemployment statistics, the Secretary shall develop reliable methods, including the use of selected sample surveys, to produce more statistically accurate data on unemployment, underemployment and labor demand by State, local, and poverty areas. (c) The Secretary shall develop preliminary data for an annual statistical measure of labor market related economic hardship in the nation. Among the factors to be considered in developing such a measure are unemployment, labor force participation, involuntary part-time employment, and full-time employment at loss than poverty wages. 87 Stat. 862 (d) The Secretary shall develop methods to establish and maintain more comprehensive household budget data at different levels of living, including a level of adequacy, to reflect the differences of house-hold living costs in regions and localities, both urban and rural. (e) The Secretary shall set aside, out of sums available to the department for any fiscal year including sums available under section 4(e) of this Act, an amount which he determines is necessary and appropriate to enable him to carry out the provisions of this section, and shall no later than sixty days after such sums are appropriated and made available notify the appropriate committees of the Congress of the amount so set aside and the basis for his determination of need and appropriateness. (f) The Secretary shall report to the Senate Committee on Labor and Public Welfare and to the House Committee on Education and Labor the results of his efforts under subsections (a), (b), and (c) of this sect ion by December 31, 1974. (g) The Secretary shall establish and carry out a nationwide computerized job bank and matching program (utilizing the listing of all suitable employment openings with local offices of the State employment service by Federal contractors and subcontractors and providing for the special emphasis as required by section 2012(a) of title 38. United States Code) on a regional. State, mid local basis, using electronic data processing and telecommunications systems to the maximum extent possible for the purpose of identifying sources of available persons anti job vacancies, providing an expeditious means of matching the qualifications of unemployed, underemployed, and economically disadvantaged persons with employer requirements and job opportunities, and referring and placing such persons in jobs.