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[IWS] BLS: MONTHLY LABOR REVIEW (as of 31 January 2014)
IWS Documented News Service
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
MONTHLY LABOR REVIEW (as of 31 January 2014)
Examination of state-level labor turnover survey data [01/31/2014]
[full-text, 24 pages]
From 1954–1981, the Labor Turnover Survey (LTS) provided labor demand-related data at the state level. For this
article, LTS time series data were compared and states were chosen based on the length of their LTS series, continuity
of series, and the geographic representation. Florida, Michigan, New York, Oregon, and Virginia were selected, and
the data analyzed both from the business cycle perspective and for specific economic events in those states. The
discussion includes LTS methodology and definitions of the data elements produced by the U.S. Bureau of Labor
Statistics and the states. The article also discusses the differences in definitions and methodology between the LTS and
the current Job Openings and Labor Turnover Survey program.
Comparing new final-demand producer price indexes with other government price indexes 01/28/2014
[full-text, 17 pages]
Analyses of the PPI for personal consumption and the CPI-U, the PPI for export goods and the IPP export index, and the PPI for final demand and the BEA price indexes for GDP and gross domestic purchases
reveal that (1) the PPI for personal consumption and the CPI-U differ in scope and coverage, categorization, and other technical areas; (2) the PPI for export goods and the IPP export index are similar in scope, but differ because the IPP export index is constructed from actual export prices whereas the PPI for export goods uses commodity prices as proxies for export prices; and (3) the PPI for final demand and the BEA price indexes for GDP and for gross domestic purchases differ as a result of calculation formulas, coverage, and their respective treatments of government and international transactions.
Analyzing price movements within the Producer Price Index Final Demand–Intermediate Demand aggregation system 01/28/2014
[full-text, 22 pages]
Since the late 1970s, the Producer Price Index (PPI) has employed the Stage of Processing (SOP) system as its main publication structure. The SOP system is composed of price indexes for goods (1) sold to households, (2) as capital investment, and (3) as business inputs. The Final Demand–Intermediate Demand (FD–ID) aggregation system was introduced on an experimental basis in January 2011 and will become the PPI’s main publication structure in early 2014. The FD–ID aggregation system includes price indexes for goods, services, and nonresidential construction sold to final demand (households, government, exports, and capital investment) and to intermediate demand (business inputs). This article presents and analyzes limited historical data on the basis of the FD–ID system. As background to this analysis, the article reviews economic and commodity price trends from November 2009 through June 2012, the period for which the new aggregate data are investigated. The article then analyzes historical price movements for the final-demand indexes and the intermediate-demand-by-commodity-type portion of the system, provides a description of the intermediate-demand-by-production flow treatment, and examines price transmission within the production flow portion of the system.
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