Tuesday, September 09, 2014

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[IWS] BLS: CONSUMER EXPENDITURES--2013 [9 September 2014]

IWS Documented News Service

_______________________________

Institute for Workplace Studies-----------------Professor Samuel B. Bacharach

School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies

Cornell University

16 East 34th Street, 4th floor--------------------Stuart Basefsky

New York, NY 10016 -------------------------------Director, IWS News Bureau

________________________________________________________________________

This service is supported, in part, by donations. Please consider making a donation by following the instructions at http://www.ilr.cornell.edu/iws/news-bureau/support.html

 

CONSUMER EXPENDITURES--2013 [9 September 2014]

http://www.bls.gov/news.release/cesan.nr0.htm

or

http://www.bls.gov/news.release/pdf/cesan.pdf

[full-text, 5 pages]

 

Average expenditures per consumer unit (1) in 2013 were $51,100, little changed

from 2012 levels, the U.S. Bureau of Labor Statistics reported today. In 2013

spending decreased 0.7 percent during the same period that the Consumer Price

Index (CPI-U) increased 1.5 percent. In 2012 spending had increased 3.5 percent,

outpacing the increase in prices. In 2013 average income per consumer unit

edged down from 2012.

               

Most of the major components of household spending decreased in 2013, as shown

in table A. The largest declines occurred in the all other expenditures

(-8.2 percent) and apparel and services (-7.6 percent) components. The all

other expenditures category includes alcoholic beverages, education,

miscellaneous, personal care products, reading, and tobacco products, all of

which showed decreases.  The only major components of household spending to

increase were healthcare (2.1 percent), housing (1.5 percent), and

transportation (0.1 percent). Overall food expenditures did not change in 2013,

however food at home increased 1.4 percent while food away from home decreased

2.0 percent. Other highlights include a 4.7-percent decrease in entertainment

spending and a 4.1-percent decrease in cash contributions.

 

 

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|                                                                             |

|               Changes to Consumer Expenditures (CE) Tax Data                |                      

|                                                                             |

|The CE introduced new estimates of state and federal tax liabilities using   |

|the TaxSim calculator produced by the National Bureau of Economic Research   |

|(NBER). Beginning with the second quarter of 2013, the state and federal tax |

|amounts used in the tables are estimates based on the expenditures and       |

|income and family characteristics. The CE gratefully acknowledges the support|

|of NBER. These  estimates improve the quality of the tax liabilities data    |

|along with estimates of after-tax income data. The tax data collected        |

|directly from consumer units during the Interview survey will be available   |

|in the 2014 public use microdata, after which they will no longer be         |

|collected. A report analyzing the impact of the change is forthcoming.       |

|                                                                             |

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AND MUCH MORE...including TABLES....

 

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This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.

 

 

 

 

 

 

 

 

 




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