Our Experience

Industries Petroleum Natural Gas Chemicals Electronics Pharmaceuticals, Medical Devices, & Biotech Retail/Consumer Goods Technology Transportation Local/State Government School Districts Other Industries

Functional Areas Antitrust & Competition Analysis of Damages Forensic Economics Intangibles/IP Labor Economics Regulatory Economics & Finance Transfer Pricing Taxation Valuation Fiscal Impact Analysis Demographic Analysis Public Policy Analysis

 

Labor Economics

IIC, Inc. applies microeconomic theory related to factor input pricing to labor markets in a broad range of contexts. Most notably, we have performed numerous studies of different labor markets and wage levels found in those markets over time including areas such as the markets for fisherman, marine vessel captains and mates, petroleum engineers and trading professionals, computer software professionals and engineers, retail management, manufacturing, and services. In addition we have performed studies relating to fringe benefits provided to workers in various industries and job classifications, and have focused in particular on health insurance benefits and retirement benefits.

Evaluation of Earnings Potential

IIC, Inc. has often been asked to determine the economic value of an individual’s earnings potential in the context of lawsuits involving personal injury and wrongful death. IIC, Inc. has provided expert testimony and damage calculations related to such claims for both plaintiffs and defendants in numerous lawsuits. In such cases, IIC, Inc. has evaluated the data related to the work life expectancy of an individual worker, based on characteristics such as age, educational level, and occupation, and determined for how many years the individual would have likely worked without the accident or discharge that ended his career. Also in the case of an injured individual, we are required to evaluate alternative occupations (including their wage and benefits) to determine how much the individual is likely to earn in his lifetime following the injury. We also evaluate the work of forensic economists who are arguing for the opposite viewpoint.

We have also performed economic research and analysis regarding the characteristics of low-wage workers and their significance to the small business community. We are currently working on an assignment to tabulate data regarding various characteristics of low-wage workers and described the industries and occupations which engage the largest percentage of low-wage workers in the United States. We have analyzed what has happened to small businesses in those industries where there are a significant number of low-wage workers, and whether changes in minimum wage standards have helped or challenged small business. In addition, we have examined the lessons learned from states where a minimum wage standard has been adopted that exceeds the federal standard, and investigated issues related to health-care coverage for low-wage workers, especially for those workers who work for small businesses.