BLS Data and You US Conference of Mayors Workforce Development Council Washington, DC January 22, 2015

Transcription

1 BLS Data and You US Conference of Mayors Workforce Development Council Washington, DC January 22, 2015

2 Agenda Economic update What can localities learn from BLS data? Working together to improve America s economic data 2

3 ECONOMIC UPDATE

4 Unemployment rate continues to decline Percent December 2014 Level: Note: Data are seasonally adjusted. Shaded areas represent recessions as determined by the National Bureau of Economic Research (NBER). Data online at Source: Bureau of Labor Statistics, Current Population Survey, January 9,

5 Nonfarm payroll employment rose by 252,000 in December 145,000 Employment in total nonfarm January December 2014 Seasonally adjusted, in thousands 140, , , , , ,000 December 2014 Level: 140,347 OTM Change: 252* Jan 2008 peak: 138,365 Feb 2010 trough: 129, , ,000 Jan Jan Jan Jan Jan Jan Jan Jan Jan Jan Jan Jan Jan Source: Bureau of Labor Statistics, Current Employment Statistics survey, January 9, Shaded areas represent recessions as denoted by the National Bureau of Economic Research. Most recent 2 months of data are preliminary. * denotes significance.

6 Recovery led by private-service industries Employment change by selected supersector Total nonfarm peak to trough and trough to current Seasonally adjusted, in thousands Total nonfarm peak to trough: -8,710 trough to current: +10, Mining and logging -1, Construction -2, Manufacturing Wholesale trade -1,176 1,117 Retail trade Transportation and warehousing Information Financial activities -1,486 Peak to trough Trough to current ,971 1,923 3,023 Professional and business services Education and health services Leisure and hospitality Other services Government -2,950-2,200-1, ,550 2,300 3,050 The total nonfarm employment peak was in January 2008; The total nonfarm employment trough was in February Source: Bureau of Labor Statistics, Current Employment Statistics survey, January 9, 2015 Note: Most recent 2 months of data are preliminary.

7 All states have added jobs since jobs trough in February 2010 but not evenly 13.0% and over 10.0% to 12.9% 7.0% to 9.9% 4.0% to 6.9% 0.0% to 3.9% Note: Percentage increase in nonfarm employment by state, seasonally adjusted, February 2010 November Source: Bureau of Labor Statistics, Current Employment Statistics.

8 What can localities learn from BLS data?

9 Priorities for BLS Data goals: Accurate, Objective, Relevant, Timely and Accessible Provide data as a pure public good Like roads and clean air Help nation s policymakers, businesses, and families make good decisions Get best we can for Nation s data dollar 9

10 BLS values in action Is the glass half full or half empty? It is an 8 oz. glass with 4 oz. of liquid Equal access to data for all users

11 BLS subject areas & uses Employment & unemployment Federal Reserve economic indicators Inflation and prices Social Security Income tax brackets Minimum wage Pay and benefits Business negotiations Spending and time use Researchers and policymakers and more!

12 BLS has regional, state and local area data 12

13 Job growth rates by metropolitan area Percent Houston Dallas Miami San Francisco Phoenix Atlanta Boston United States -0.2 Los Angeles New York Chicago Washington Philadelphia Note: Total nonfarm employment, over-the-year-change, U.S. and 12 largest metropolitan areas, November 2014 Source: BLS, Current Employment Statistics Survey-State and Area. 13

14 Unemployment rate Available at detailed geographies Unemployment rates by state, seasonally adjusted, November 2014 (U.S. rate = 5.8 percent) Arkansas county unemployment rates, not seasonally adjusted, November 2014 SOURCE: Bureau of Labor Statistics Local Area Unemployment Statistics 7.0% or higher 6.0% to 6.9% 5.0% to 5.9% 4.0% to 4.9% 3.9% or lower Source: BLS, Local Area Unemployment Statistics (LAUS), November

15 Occupational wages Heavy & tractor-trailer truck drivers Source: BLS, Occupational Employment Statistics (OES). 15

16 Local industry concentrations Note: Location quotients (LQs) greater than 1.0 (blue) indicate counties with above average industry concentrations, LQs less than 1.0 (orange) indicate lower industry concentrations. Source: BLS, Quarterly Census of Employment and Wages (QCEW), January 16,

17 Annual percent change in wages Source: BLS, Quarterly Census of Employment and Wages (QCEW), January 16,

18 Number and rate of fatal occupational injuries, by industry sector, 2013 Source: BLS; Injuries, Illnesses, and Fatalities (IIF) Program; 2013 data are preliminary. 18

19 Working together to improve America s economic data

20 What you can do for us Encourage participation Local employers associations Families and advocacy groups Yourselves Provide ideas and feedback As respondents to reduce burden As users to improve products Speak up for national statistics When you use them, let people know and why! 20

21 What we could do together: Harness a key resource Enhanced Unemployment Insurance wage records Standardize across states Enhance with demographic and labor market info on workers and employers Share securely in an efficient Big Data facility Result Agreements in place across states and with statistical agencies Better policy design, target and evaluate Deeper understanding of local, regional, and statewide markets Better family and business decisions 21

22 What we can do for you Internet: Sign up for alerts Follow BLS on Twitter The Economics Call or BLS staff (202)

23 Resources for Public Policy Makers

24 BLS speakers are available! Examples of presentations: Understanding Inflation: How BLS calculates consumer, producer, and import and export prices. 24

25 Questions?

26 Contact Information Erica L. Groshen Commissioner

27 Observations as BLS Commissioner BLS has a special, strong pact with the American people We work hard to achieve exceptional voluntary cooperation from firms and families BLS staff honors and works to uphold public trust Transparent methods and trusted products Legal and procedural protections 27

28 Hurricane flood zone maps of Gulf and Atlantic coasts 28

29 Spotlight on Statistics 29

30 Commissioner s Corner 30

31 Follow BLS on Twitter 31

32 Occupational Wages Where are wages high? Where are they low? U.S. wages and employment by location for as many as 800 detailed jobs for hundreds of industries Source: BLS, Occupational Employment Statistics (OES). 32