The final version of our 2014.2 data release is now available to subscribers of Analyst, EMSI’s labor market data research tool. The most significant changes in this release are due to updated data sources.
Updated Data Sources in This Release
• Current Employment Statistics, up to January 2013 (BLS). This dataset helps us form an estimate of 2013 annual job averages ahead of final, detailed figures from QCEW.
• Quarterly Census of Employment & Wages, Q3 2013 (BLS). This is the most complete source for wage and salary industry employment data.
• State Industry Projections. In this release we use updated long-term industry projections for the following states: North Carolina and Ohio. We collect long-term industry projections from each state on a regular basis to help inform our 10-year industry projections.
Projection Year. Starting with this release, we are projecting jobs to the year 2024. Previously we projected to 2023.
Louisiana Projections. For several years, EMSI has used a special projection adjustment in Louisiana to account for the effects of Hurricane Katrina, assuming more robust job growth than the long-term historical average might indicate. Starting with this release, we have enough post-Katrina data to revert to our standard projection methodology. The effect of this change has been to slightly
reduce the total projected 10-year job growth rate across most of Louisiana state. The effect is much more pronounced in Orleans Parish, particularly among the “QCEW Employees” class of worker.
Other Important Notices
QCEW Classification Shifts in 2013 Q1
Starting in 2013 Q1, the Quarterly Census of Employment and Wages began reclassifying establishments that were formerly coded in NAICS 525 (Funds, Trusts, and Other Financial Vehicles) and 814 (Private Households). Most of the employment that was under 525 is now coded under 5239 (Other Financial Investment Activities) and 551 (Management of Companies and Enterprises). More than 60% of the employment formerly in 814 is now coded under 62412 (Services for the Elderly and Persons with Disabilities). In EMSI data, these “breaks” are apparent starting in 2013 annual averages, although the full extent of the breaks will not be seen until we have all four quarters of 2013 QCEW data. Historical data will not be reclassified unless it is done in the original QCEW source. (Source link)
Sequester Impacts to Local Area Personal Income
Recent federal budget cuts (the “sequester”) have resulted in changes to the BEA’s LPI program. As a result, EMSI can no longer determine total farm/nonfarm proprietors by county from LPI. EMSI will no longer use updated versions of LPI and is evaluating replacement methodologies.
Upcoming Shift to NAICS 2012
QCEW 2011 onward (and CES) data are published in NAICS 2012 codes. EMSI currently converts this data back to NAICS 2007 codes. EMSI is planning to move all data to NAICS 2012 in Q3 or Q4 of 2014.
Questions? Contact Us
If you have any questions or feedback about the new data, please contact Customer Solutions at (866) 999-3674 or via the online chat feature within EMSI Analyst.