I'm working on estimating the state-wide impacts of earnings by graduates from a New Jersey community college, over time. To do so, I have estimated the number of graduates who will work in-state, and taken average entry level salaries for applicable jobs related to their fields of study. I am modeling the activities and events as industry changes within the related industry categories, under the three-digit NAICS aggregation scheme, using in-state graduates for "Employment" and then customizing the event by modifying "Employee Compensation" to equal the product of total graduates times average annual entry-level salary. For example, 81 Registered Nurses in the Class of 2011, with average entry-level salaries of $61,053 each, would be modeled as: 398 623 Nursing & residential care Industry Sales: $5,796,090.50(generated by IMPLAN) Employment: 81 Employee Compensation: $4,450,764.00 (customized: 81 employees*$61,053 avg salary) Proprietor Income: $121,762.70 (generated by IMPLAN) Event Year: 2011 I want to repeat this calculation for future classes (Class of 2012, Class of 2013, etc). I know I need to change the event year, but do I also need to inflate the figure for average entry-level salary (and, consequently, the figure for Employee Compensation) to match the new event year?
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