Basics of Economic Data Between the Decennial Census Years Community and Regional Planning 511: Mar. 2006 Kevin Kargacin University of New Mexico Bureau of Business and Economic Research kargacin@unm.edu
Basics of Economic Data Background Industry Codes Geographic Areas Key Topics Work Force Personal Income Business Data Establishments, employment, payroll, production
Background Industry Coding Schemes Standard Industrial Classification (SIC) System Old scheme used for more than 60 years Goods-producing sectors emphasized Total of 11 broad categories Four-digit coding scheme North American Industry Classification System NAICS New scheme Nine new, broad service sectors More than 350 new individual industries Total of 20 broad categories Six-digit coding scheme
Background Industry Coding Schemes SIC Terminology Division Major Group Industry Group Industry 1-Digit Code 2-Digit Code 3-Digit Code 4-Digit Code
Background Industry Coding Schemes SIC Example Code Description Term I Services Division 80 Health Services Major Group 809 Miscellaneous Health and Allied Industry Group Services, Not Elsewhere Classified 8093 Specialty Outpatient Facilities, Industry Not Elsewhere Classified
Background Industry Coding Schemes SIC Divisions Code A B C D E F G H I J K Description Agriculture, Forestry & Fishing Mining Construction Manufacturing Transportation, Communications, Electric, Gas & Sanitary Services Wholesale Trade Retail Trade Finance, Insurance & Real Estate Services Public Administration Nonclassifiable Establishments
Background Industry Coding Schemes NAICS Terminology Sector Subsector Industry Group NAICS Industry US Industry 2-Digit Code 3-Digit Code 4-Digit Code 5-Digit Code 6-Digit Code
Background Industry Coding Schemes NAICS Example Code Description Term 62 Health Care & Social Assistance Sector 621 Ambulatory Health Care Services Subsector 6214 Outpatient Care Centers Industry Group 62142 Mental Health & Substance Abuse NAICS Industry 621420 Mental Health & Substance Abuse US Industry
Background NAICS Sectors Industry Coding Schemes Code Description 11 Agriculture, Forestry, Fishing & Hunting 21 Mining 22 Utilities 23 Construction 31-33 Manufacturing 42 Wholesale Trade 44-45 Retail Trade 48-49 Transportation & Warehousing 51 Information 52 Finance & Insurance 53 Real Estate & Rental & Leasing
Background Industry Coding Schemes NAICS Sectors (continued) Code Description 54 Professional, Scientific & Technical Services 55 Management of Companies & Enterprises 56 Administrative & Support, Waste Management & Remediation Services 61 Educational Services 62 Health Care and Social Assistance 71 Arts, Entertainment & Recreation 72 Accommodation & Food Services 81 Other Services 92 Public Administration
Background Geography Legal areas U.S. States Counties Cities Unincorporated County Balances Statistical areas Metro Areas ZIP Codes
Work Force Selected Key Sources NM Dept. of Labor (NMDOL) US Bureau of Economic Analysis (BEA)
Work Force Databases Employment (jobs): Broad sectors and subsectors Detailed industries Class of worker Civilian or military Wage & salary workers or self-employed Government or private Labor force status Employed, unemployed, not in labor force
Work Force NMDOL Jobs Current Employment Statistics (CES) Persons on employer payrolls wage/salary workers Note: Double job holders are counted twice Broad sectors and some subsectors and industries Place of work basis Monthly State and metro areas Excludes Self-employed Unpaid family workers or volunteers Agricultural workers Domestic household workers Military
Work Force NMDOL Jobs Quarterly Census of Employment & Wages (QCEW) Persons on covered employer payrolls wage/salary workers Note: Double job holders are counted twice Subsectors (industries in some tabulations) Place of work basis Quarterly State and counties Includes Private sector employees covered under NM Unemployment Compensation Law (UI). Workers in households, non-profits, most local, state and federal govt. workers, and parts of the agricultural sector.
Work Force NMDOL Jobs QCEW (continued) Excludes Self-employed Unpaid volunteers or family workers Some agricultural workers Military Insurance and real estate agents on commission Services performed for an educational institution by a student enrolled and attending classes at that institution Services performed in the employment of a church Employees of Los Alamos National Laboratory Most railroad workers
Work Force NMDOL Labor Force Status Local Area Unemployment Statistics (LAUS/Table A) Persons that are employed Includes Wage and salary workers Self employed Agricultural workers Unpaid workers (worked 15 hrs. or more) in a family business Excludes military No sector breakdown Persons that are unemployed not working, but looking for work within the last four weeks Place of residence basis Monthly State, county and metro areas
Work Force NMDOL Data Access NMDOL data at: www.dol.state.nm.us
Work Force BEA Jobs Full- and part-time employment Persons on employer payrolls Note: Double job holders are counted twice Broad sectors (counties) and subsectors (state) Place of work basis Annual State, counties and metro areas Two series Total full- and part-time employment includes self-employed along with wage and salary workers Full- and part-time wage and salary employment Includes covered, non-covered and military
Work Force BEA Jobs Access BEA data at: www.bea.gov
Personal Income BEA Database Types of Income Earnings by subsector Wage & salary disbursements Supplements to wages & salaries Proprietors income Dividends, interest & rent Transfer receipts Social security TANF (welfare) Food stamps Medicaid and Medicare Etc.
Personal Income BEA Database Geography and time periods U.S. & states annually and quarterly Counties annually Metro areas annually
Personal Income BEA Income Tables U.S. and States Summary personal income estimates Income & employment summary (SA04 & SQ04) Income by major source and earnings by industry (SA05 & SQ05) Compensation of employees by industry (SA06 & SQ06) Wage & salary disbursements by industry (SA07 & SQ07) Economic profiles (SA30) Transfer receipts by type (SA35) Farm income and expenses (SA45) Personal current taxes (SA50)
Personal Income BEA Income Tables Counties and Metro Areas Population and summary estimates (CA1-3) Income and employment summary (CA04) Income by major source & earnings by industry (CA05) Compensation of employees by industry (CA06) Economic profile (CA30) Wage & salary summary estimates (CA34) Transfer receipts by type (CA35) Farm income and expenses (CA45)
Business Data Census Bureau Business Patterns Establishments Physical locations With a payroll at some time during the year Excludes Establishments consisting only of self-employed (i.e., no paid employees) Most government establishments, except hospitals, governmentoperated liquor stores, Federal Reserve Bank branches Railroads Businesses devoted to agricultural production Certain businesses in the funds, trusts, and other financial vehicles sector. Establishments tabulated by employment-size classes
Business Data Census Bureau Business Patterns Employment Employees on the payroll as of mid-march. Excludes Employees is establishments listed in previous slide Domestic servants
Business Data Census Bureau Business Patterns Payroll First quarter Annual
Business Data Census Bureau Business Patterns Access Census Bureau Business Data at www.census.gov
Business Data Census Bureau Economic Census Establishments Employees Mid-March and other periods for some sectors Nonemployers Payroll Production measures Sales, receipts, or value of shipments Special subjects
Business Data Census Bureau Geography Business patterns States, metro areas, counties, ZIP Codes Economic Census (varies by NAICS sector) State, metro areas, counties, cities, unincorporated areas, ZIP Codes
Business Data Census Bureau Time Periods Business Patterns annually Economic Census every five years Nonemployer at time of economic census and annually
Business Data NM Taxation & Revenue Dept. Gross Receipts: RP-80 A measure of production Defined as the total amount of money or value of other consideration received from: Selling property in NM Leasing property employed in NM Performing services in NM
Business Data NM Taxation & Revenue Dept. Gross Receipts: RP-80 Data by industry: Total reported gross receipts Taxable gross receipts Gross tax due Data subject to gross receipts tax law Time periods: monthly, quarterly, annually Geography: state, whole counties, incorporated cities, unincorporated county balances
Business Data NM Taxation & Revenue Dept. Gross Receipts: RP-80 Access NMTRD gross receipts data at: www.unm.edu/~bber
Basics of Economic Data Revisions and Consistency Many sources revise time series data Incorporate all revisions into your data set If you use variables that are from different databases, be aware of differences in concepts among databases. NAICS often not consistent with SIC. Some government agencies are revising time series data in terms of NAICS