PRICES & SPENDING • Feb 2014 • Volume 3 / Number 4
The release of January 2014 Producer Price Index (PPI) data marks the transition from the Stage of Processing (SOP) aggregation system to the Final Demand–Intermediate Demand (FD–ID) aggregation system. The transition to the FD–ID system is the culmination of a longstanding PPI objective to improve upon the SOP aggregation system by incorporating price data for services, construction, government purchases, and exports.Read full article » | Download PDF
Although some occupations are found in nearly every industry in the United States, others are specific to one or only a few industries. For example, several of the most concentrated occupations in the coal mining industry are found primarily in that industry, and are uncommon outside of the mining and extraction sector. As a result, job mobility for these workers might be extremely limited in the face of an industry downturn, particularly one affecting the extraction industries in general. On the other hand, although over a quarter of computer systems analysts are found in the computer systems design and related services industry, this occupation was distributed relatively evenly across sectors, potentially allowing displaced workers to move more easily into other industries. Understanding the relationship between industry and occupation may provide important insights into workers’ ability to cope with job loss by moving across industries.
Between June 2009, the start of the national recovery according to the National Bureau of Economic Research, and the end of 2012, the national unemployment rate dropped by 1.7 percentage points, to 7.8 percent, while the rate in New York City declined by only 0.6 percentage point, to 8.8 percent.
New education classification better reflects income and spending patterns in the Consumer Expenditure Survey
An individual's level of education and associated earnings profoundly influence spending patterns. Published Consumer Expenditure Survey (CE) data tables have shown average expenditures, income, and other consumer unit (CU) characteristics classified by education of the reference person. With the release of calendar year 2012 CE data on September 10, 2013, the education of reference person classification was replaced by the highest education level of any member in the consumer unit.