Items tagged with labor:
News & Updates:
Testimony for the House Judiciary Committee Hearing, “Antitrust and Economic Opportunity: Competition in Labor Markets”On Tuesday, October 29th, Professor Ioana Marinescu testified before the House Judiciary Committee. Professor Ioana Marinescu is an expert on issues of antitrust in the labor market, her research is summarized in the Wharton PPI issue brief, “The Other Side of a Merger: Labor Market Power, Wage Suppression, and Finding Recourse in Antitrust Law .” In her testimony, she highlighted four points. Employers can suppress wages due to limited competition in the labor market; the majority (60%) of US labor markets are highly concentrated; higher labor market concentration tends to lower wages; and antitrust enforcement in labor markets should be strengthened. Watch Professor Marinescu’s testimony beginning at 1:23:00 in the linked video.
U.S. to Restrict Visas for Chinese Officials; Treasury Considering Rolling Back Obama-era Offshore Tax Rule; Changes to Anti-Kickback Rules for Health Care Providers; Trump Officials Eliminate Board that Advised on Smart Grid Innovation; Falling U.S. Job Openings Point to Slowing Labor Market; Federal Reserve Officials Worried.
U.S. President required to be told he cannot buy foreign sovereign land; Labor Department proposes religion exemption for hiring and firing; Implementing International Price Index for drugs is a top priority; Trump merit-based immigration policy will lead to sicker children; U.S. homebuilding fell for a third straight month in July; Trade worries send consumer sentiment lower than expected.
U.S. labels China a currency manipulator; Federal Reserve announces real-time payments system FedNow; “How Much Nature Should America Keep?”; Trump pick throws FERC into turmoil; JOLTS adds to upbeat signs in labor market.
First large-scale offshore wind project faces headwinds from fishing industry; Labor department announces small business retirement-plan rule; U.S. joins international community demanding decryption power; U.S.-China trade talks resume this week; Inflation concerns driving expected Fed rate cut.
ADP Employment Report
The ADP National Employment Report® is published monthly by the ADP Research InstituteSM in close collaboration with Moody’s Analytics and its experienced team of labor market researchers. The ADP National Employment Report provides a monthly snapshot of U.S. nonfarm private sector employment based on actual transactional payroll data.
Quick link: http://www.adpemploymentreport.com/
Bureau of Labor Statistics
The Bureau of Labor Statistics of the U.S. Department of Labor is the principal Federal agency responsible for measuring labor market activity, working conditions, and price changes in the economy. Its mission is to collect, analyze, and disseminate essential economic information to support public and private decision-making.
- Home Page
- Top Picks : Most requested BLS data in downloadable Excel spreadsheets
- Databases, Tables & Calculators by Subject : Comprehensive collection of all BLS statistics in one place
- Economy at a Glance : Previous six months of major BLS data releases
- Current Year’s News Release Schedule
Major Economic Indicators:
Consumer Price Index (CPI): An index of the cost of living commonly used to measure inflation. The BLS publishes the CPI-U, an index of consumer prices based on the typical market basket of goods and services consumed by all urban consumers, and the CPI-W, an index of consumer prices based on the typical market basket of goods and services consumed by urban wage earners and clerical workers.
To calculate inflation, subtract a previous period’s CPI number from a later (e.g. current) period’s CPI number, then divide the result by the same previous period’s CPI number.
Employment Cost Index (ECI): An index of the weighted-average cost of an hour of labor—comprising the cost to the employer of wage and salary payments, employee benefits, and payroll taxes for social insurance programs, such as Social Security. The ECI is structured so that it is not affected by changes in the mix of occupations in the labor force or the mix of employment by industry.
Employment Situation : This news release presents statistics from two major surveys, the Current Population Survey (CPS; household survey) and the Current Employment Statistics survey (CES; establishment survey). For more information about these surveys, please read this technical explanation .
- Unemployment rate: A measure of the number of jobless people who are available for work and are actively seeking jobs, expressed as a percentage of the labor force.
- Labor force: The number of people age 16 or older in the civilian non-institutionalized population who have jobs or who are available for work and are actively seeking jobs. (The civilian non-institutionalized population excludes members of the armed forces on active duty and people in penal or mental institutions or in homes for the elderly or infirm.) The labor force participation rate is the labor force as a percentage of the civilian non-institutionalized population age 16 or older.
- News Releases and Data
Producer Price Index : Family of indexes that measure the average change over time in the prices received by domestic producers of goods and services. PPIs measure price change from the perspective of the seller. This contrasts with other measures, such as the Consumer Price Index (CPI). CPIs measure price change from the purchaser’s perspective. Sellers’ and purchasers’ prices can differ due to government subsidies, sales and excise taxes, and distribution costs. More than 9,000 PPIs for individual products and groups of products are released each month. PPIs are available for the products of virtually every industry in the mining and manufacturing sectors of the U.S. economy. New PPIs are gradually being introduced for the products of industries in the construction, trade, finance, and services sectors of the economy.
Productivity and Costs : The BLS reports hours data on labor productivity and cost measures, as well as business output and labor compensation.
- Productivity: Average real output per unit of input. Labor productivity is average real output per hour of labor. The growth of labor productivity is defined as the growth of real output that is not explained by the growth of labor input alone. Total factor productivity is average real output per unit of combined labor and capital services. The growth of total factor productivity is defined as the growth of real output that is not explained by the growth of labor and capital. Labor productivity and total factor productivity differ in that increases in capital per worker raise labor productivity but not total factor productivity.
- News Releases and Data
Real Earnings : A measure of the value of workers’ earnings (attained from the Current Employment Statistics survey) that removes the effect of inflation (attained from CPI data).
U.S. Import and Export Price Indexes : The International Price Program (IPP) produces Import/Export Price Indexes (MXP) containing data on changes in the prices of nonmilitary goods and services traded between the U.S. and the rest of the world.
Note: Sources of economic indicator definitions are the Congressional Budget Office and BLS.
U.S. Census Bureau: Business Dynamics Statistics
The Business Dynamics Statistics (BDS) includes measures of establishment openings and closings, firm startups, job creation and destruction by firm size, age, and industrial sector, and several other statistics on business dynamics. The U.S. economy is comprised of over 6 million establishments with paid employees. The population of these businesses is constantly churning –– some businesses grow, others decline and yet others close. New businesses are constantly replenishing this pool. The BDS series provide annual statistics on gross job gains and losses for the entire economy and by industrial sector and state. These data track changes in employment at the establishment level, and thus provide a picture of the dynamics underlying aggregate net employment growth.
Quick link to BDS Data: https://www.census.gov/ces/dataproducts/bds/data.html
U.S. Census Bureau: Labor Force Statistics
Labor force statistics produced by the Census Bureau provide important information about the state of the nation’s workforce.
Quick link: http://www.census.gov/people/laborforce/
U.S. Department of Labor
All sorts of people use the Department of Labor (DOL) Web site. Here is a list of the Top 20 pages that workers, students, employers, and other customers are going to most frequently. These pages include:
• The Occupational Outlook Handbook
• BLS Data pages
• COBRA, minimum wage, and other information
Quick link: http://www.dol.gov/dol/top-requested.htm