New Measures of Prices for Global Trade

Shipping containers sitting on a dock at a port.How do prices for U.S. manufacturing exports compare to prices for goods manufactured abroad? How has the balance of export and import prices between the United States and Mexico changed over time? BLS has new measures to answer these and other questions on the competitiveness of U.S. production. We have published data on import and export price indexes since 1973. Since then we have made many improvements to the data we provide. Our latest improvements are the locality of destination export price indexes and the U.S. terms of trade indexes.

What are the locality of destination indexes?

Each locality of destination index measures price changes in dollars for U.S. goods exported to another country, region, or group of countries. These include major U.S. trade partners like China and the European Union. The indexes are available for all goods and for manufacturing and nonmanufacturing goods industries for some localities. The locality of destination indexes are a counterpart to the locality of origin import price indexes, which we have published since 1990. The locality of origin indexes let us examine price trends for goods imported from other countries, regions, and groups of countries.

What do the locality of destination indexes tell us?

The locality of destination indexes show how export price movements can vary depending on where U.S. goods are sold. For instance, from August to September 2018, prices for manufacturing exports to Latin America increased 0.3 percent. During the same period, manufacturing export prices to the European Union did not change. Comparing the two price movements, we can conclude market prices for U.S. exports arriving in Latin America increased relative to exports bound for Europe. Identifying these trends allows data users to dig deeper to see how currency exchange rates or shifts in global supply and demand affect price movements across trade partners.

What are the terms of trade indexes?

Each terms of trade index measures the purchasing power of U.S. exports, in terms of imports, for a specific country, region, or group of countries. In other words, the terms of trade index for China provides information on the price for exports to China, and how those export prices compare to prices for imports coming from China. Prices for exports and imports are measured in U.S. dollars, so exchange rates are already taken into account. We calculate the terms of trade index for China by dividing the China export index by the China import index, then multiplying by 100. An increase in the China terms of trade index means prices for exports to China are rising faster than prices for imports from China.

What does a terms of trade index price change mean?

A change in a terms of trade index provides information on the competitiveness of U.S. goods in the global market. Take the previous example, an increase in the China terms of trade index. U.S. producers are receiving higher prices for exported goods, meaning U.S. companies can now afford to purchase more imports. The U.S. terms of trade—or competitiveness—with China have improved. When looking at the trends, remember that the types of goods U.S. businesses export to and import from China are different, and underlying price changes may have different causes.

How broad is the coverage of the terms of trade indexes?

We have terms of trade indexes for each country, region, or group of countries where we publish both a locality of destination export index and a locality of origin import index. These countries include major trading partners:

  • Canada
  • Mexico
  • Germany
  • China
  • Japan

They also include regions or groups of countries:

  • Industrialized Countries (Western Europe, Canada, Japan, Australia, New Zealand, and South Africa)
  • European Union
  • Latin America (Mexico, Central America, South America, and the Caribbean)
  • Pacific Rim (China, Japan, Australia, Brunei, Indonesia, Macao, Malaysia, New Zealand, Papua New Guinea, Philippines, and the Asian Newly Industrialized Countries)

We publish the terms of trade indexes and the locality of destination indexes monthly. Data are available beginning with December 2017.

Why did we develop these new indexes?

The locality of destination and terms of trade indexes come from an ongoing effort to better measure the competitiveness of U.S. goods. We began expanding our measures of competitiveness in 2010 by extending the locality of origin import indexes to more detailed industries. Next we began work on the locality of destination and terms of trade indexes, eventually introducing them in September 2018.

Want to learn more?

Topics: Industries | Inflation and Prices | U.S. Statistical System | Why This Counts
Tags: , , , , ,

100 years after World War I: What’s the Labor Market Status of Our Veterans in 2018?

As we commemorate the 100th anniversary of the end of World War I — at the 11th hour on the 11th day of the 11th month of 1918 — we also want to honor our current veterans.

In honor of Veterans Day, here are our most up-to-date statistics about veterans:

  • In October 2018, 19.1 million men and women were veterans, accounting for about 8 percent of the civilian noninstitutional population age 18 and over.
  • After reaching 9.9 percent in January 2011, the unemployment rate for veterans was 2.9 percent in October 2018. The peak unemployment rate for nonveterans was 10.4 percent in January 2010; their rate was 3.5 percent in October 2018.
  • The unemployment rate for Gulf War-era II veterans—those who served on active duty at any time since September 2001—reached 15.2 percent in January 2011. In October 2018, the unemployment rate for these veterans was 3.1 percent.
  • There were 269,000 unemployed veterans in the United States in October 2018. Eighteen percent of them were ages 18 to 34, 39 percent were ages 35 to 54, and 43 percent were 55 years and over.
  • In the third quarter of 2018, more veterans worked in government than any other industry; 21 percent of all employed veterans worked in federal, state, or local government. By comparison, 13 percent of employed nonveterans worked in government.
  • After government, veterans were most likely to work in manufacturing and in professional and businesses services (about 11 percent each).

Looking for more information on veterans? Check out our page devoted to veterans.

Now, let’s take a look at some data that may help veterans who are looking for work or considering a career change.

Thinking of moving?

In 2017, the unemployment rate for veterans varied across the country, ranging from 1.7 percent in Maine and Vermont to 7.3 percent in Rhode Island.

Map showing unemployment rates for veterans by state, 2017 annual averages

Editor’s note: Data for this map are available in the table below.

Considering different industries?

There were 7.0 million job openings in September 2018. Here’s how they break down by industry.

Chart showing job openings by industry in September 2018

Editor’s note: Data for this chart are available in the table below.

Wondering about different jobs?

Thank you, veterans, for your service. As with our armed forces of the past, your service is the foundation of this great nation.

Want more information? Check out our website at www.bls.gov 24/7 or give our information office a call at (202) 691-5200. We also have regional information offices available to help you. BLS has the data YOU need to make wise decisions.

Unemployment rates for veterans by state, 2017 annual averages
State Unemployment rate
Total, 18 years and older 3.7%
Alabama 2.2
Alaska 5.3
Arizona 5.2
Arkansas 4.4
California 4.2
Colorado 3.7
Connecticut 3.4
Delaware 4.0
District of Columbia 6.3
Florida 2.9
Georgia 3.4
Hawaii 3.5
Idaho 3.4
Illinois 4.1
Indiana 2.4
Iowa 5.0
Kansas 2.5
Kentucky 2.0
Louisiana 3.0
Maine 1.7
Maryland 3.3
Massachusetts 2.4
Michigan 3.6
Minnesota 5.1
Mississippi 3.5
Missouri 3.1
Montana 4.4
Nebraska 4.5
Nevada 4.9
New Hampshire 3.3
New Jersey 4.0
New Mexico 3.3
New York 3.9
North Carolina 4.7
North Dakota 2.1
Ohio 3.5
Oklahoma 3.5
Oregon 4.3
Pennsylvania 5.0
Rhode Island 7.3
South Carolina 3.9
South Dakota 2.5
Tennessee 3.5
Texas 3.8
Utah 2.9
Vermont 1.7
Virginia 2.5
Washington 3.2
West Virginia 5.1
Wisconsin 3.3
Wyoming 4.6
Note: Veterans are men and women who served on active duty in the U.S. Armed Forces and were not on active duty at the time of the survey.
Job openings by industry in September 2018
Industry Job openings
Professional and business services 1,256,000
Health care and social assistance 1,223,000
Accommodation and food services 961,000
Retail trade 756,000
Manufacturing 484,000
State and local government, excluding education 317,000
Transportation, warehousing, and utilities 300,000
Construction 278,000
Finance and insurance 272,000
Other services 243,000
Wholesale trade 237,000
State and local government education 205,000
Information 117,000
Arts, entertainment, and recreation 87,000
Real estate and rental and leasing 84,000
Federal government 79,000
Educational services 76,000
Mining and logging 32,000
Topics: Career Outlook | Earnings and Wages | Educational Attainment | Employment | Geographic Information | Industries | Job Openings, Hires, and Separations | Labor Force Characteristics | Monthly Labor Review | Occupational Outlook Handbook | Occupations | Unemployment
Tags: , , , , , ,

Why This Counts: What Does the Future Hold for the Workforce?

You or someone you know may be deciding on a career, whether just starting out in the workforce or looking to change jobs. If so, you may have questions about potential careers. BLS employment projections and our Occupational Outlook Handbook can help answer them.

“Our team highlights the Occupational Outlook Handbook in their workshops and in their individual coaching sessions with students as a key resource for them to explore, expand, and understand all of their options. Our team also uses the information to assess job trends so we can help students prepare for the job market of the future.” — George Washington University, Center for Career Services

Even if you aren’t looking for a career change, you may be interested in a broader picture of the future of the U.S. economy and workforce. You can find this information, and much more, from the Employment Projections program.

What’s a projection and how do you make one?

A projection is an estimate of future conditions or trends based on a study of past and present trends.

Every 2 years, the Employment Projections program publishes 10-year projections of national employment by industry and occupation based on analysis of historical and current economic data. The purpose is to offer some insight into questions about the future growth or decline of industries and occupations.

We use historical and current BLS data primarily from the Current Population Survey, the Current Employment Statistics survey, and the Occupational Employment Statistics survey. You can see an overview of our six-step projections process.

BLS is working toward releasing the projections each year, rather than every 2 years.

See our video on “Understanding BLS Employment Projections.”

What are some data highlights for the 2016–26 projections?

The most recent labor force projections tell us about the impact of the aging of the population.

  • As the large baby-boom generation (those born between 1946 and 1964) grows older, the overall labor force participation rate is projected to be lower than in previous decades. The labor force participation rate is the share of people working or looking for work. We project the rate to be 61.0 percent in 2026, compared with 62.8 percent in 2016 and 66.2 percent in 2006. This is because older people have lower labor force participation rates than younger age groups.
  • The 55-and-older age group is projected to make up nearly one-quarter of the labor force in 2026, up from 22.4 percent in 2016 and 16.8 percent in 2006.
  • The share held by the youngest age group—ages 16 to 24—is projected to continue to decline as they focus on their education.

Percent distribution of the labor force by age in 1996, 2006, 2016, and projected 2026

Editor’s note: Data for this chart are available in the table below.

We can view employment projections in terms of the change in the number of jobs and as a percent change. The projected percent change represents how fast an occupation or industry is projected to grow.

  • The chart below includes the top ten fastest-growing occupations from 2016 to 2026.
  • Five of the occupations are related to healthcare, which makes sense with a population that is growing older.
  • The top two fastest-growing occupations install, repair, and maintain solar panels and wind turbines. These two occupations are small in numbers but are both projected to double in size over the decade, reflecting the current interest in alternative forms of energy.
  • The remaining occupations fall into what is known as STEM (science, technology, engineering, and math).

Fastest-growing occupations, projected, 2016–26

Editor’s note: Data for this chart are available in the table below.

What other information can you get from the Employment Projections program?

BLS also provides information on the education and training path for occupations. What education do people usually need to enter an occupation? Does the occupation typically need work experience in a related occupation? Is specific on-the-job training typically needed? BLS provides this information for every detailed occupation for which we publish projections. We describe the typical path to entry in the base year of the projections. This education and training information, with the occupational projections and wages, form the basis of the Occupational Outlook Handbook.

“It [the Occupational Outlook Handbook] is a great jumping off point. I use it to go more in depth with students. We look at what the career entails, and which fields really appeal to them.” — Gail Grand, College Counselor, Westlake Village, California

What is the Occupational Outlook Handbook?

The Occupational Outlook Handbook has been around for nearly 70 years, and it is a trusted (and free!) source of career information. It incorporates BLS data and lots of other information about careers, along with tools to find the information you need. Another publication, Career Outlook, is published throughout the year and provides practical information about careers for students, career counselors, jobseekers, and others planning careers.

“The Handbook has been an effective tool during our strategic planning process at the Foundation. We’ve used the data to design an investment strategy that will focus on linking opportunity youth with promising careers in the region. OOH enabled us to sync up resource allocation with program development.” — Kristopher Smith, Foundation for the Mid-South

Want to know about projections for your state or local area?

While BLS makes projections at the national level, each state makes projections for states and local areas. Find information on state projections at Projections Central.

Want more Employment Projections information?

Check out the latest news release. Head to the Frequently Asked Questions to learn more. Or contact the information folks by phone, (202) 691-5700, or email.

Changing jobs or starting a new career is a big decision. Use these gold-standard BLS data to help you make smart decisions, which could help you for years to come. Don’t be a buggy whip maker when everyone is riding in a self-driving car—or a rocket ship!

Percent distribution of the labor force by age
Year 16 to 24 25 to 34 35 to 44 45 to 54 55 and older
1996 15.8% 25.3% 27.3% 19.7% 11.9%
2006 14.8 21.5 23.7 23.2 16.8
2016 13.3 22.3 20.6 21.3 22.5
Projected 2026 11.7 22.1 22.2 19.2 24.8
Fastest-growing occupations, projected, 2016–26
Occupation Percent change
Solar photovoltaic installers 104.9%
Wind turbine service technicians 96.3
Home health aides 47.3
Personal care aides 38.6
Physician assistants 37.3
Nurse practitioners 36.1
Statisticians 33.8
Physical therapist assistants 31.0
Software developers, applications 30.7
Mathematicians 29.7
Topics: Career Outlook | Educational Attainment | Employment | Employment Projections | Geographic Information | Industries | Labor Force Characteristics | Occupational Outlook Handbook | Occupations | Students (K-12) | Why This Counts
Tags: , , , , , , , ,

Making It Easier to Find Data on Pay and Benefits

We love data at the U.S. Bureau of Labor Statistics. We have lots of data about the labor market and economy, but we sometimes wish we had more. For example, we believe workers, businesses, and public policymakers would benefit if we had up-to-date information on employer-provided training. I recently wrote about the challenges of collecting good data on electronically mediated work, or what many people call “gig” work. I know many of you could make your own list of data you wish BLS had. One topic for which we have no shortage of data is pay and benefits. In fact, we have a dozen surveys or programs that provide information on compensation. We have so much data on compensation that it can be hard to decide which source is best for a particular purpose.

Where can you get pay data on the age, sex, or race of workers? Where should you go if you want pay data for teachers, nurses, accountants, or other occupations? What about if you want occupational pay data for a specific metro area? Or if you want occupational pay data for women and men separately? What if you want information on workers who receive medical insurance from their employers? Where can you find information on employers’ costs for employee benefits? Here’s a short video to get you started.

But wait, there’s more! To make it easier to figure out which source is right for your needs, we now have an interactive guide to all BLS data on pay, benefits, wages, earnings, and all the other terms we use to describe compensation. Let me explain what I mean by “interactive.” The guide lists 12 sources of compensation data and 32 key details about those data sources. 12 x 32 = a LOT of information! Having so much information in one place can feel overwhelming, so we created some features to let you choose what you want to see.

For example, the guide limits the display to three data sources at a time, rather than all 12. You can choose which sources you want to learn about from the menus at the top of the guide.Snippet of interactive guide on BLS compensation data.

If you want to learn about one of the 32 key details across all 12 data sources, just press or click that characteristic in the left column. For example, if you choose “Measures available by occupation?” a new window will open on your screen to describe the pay data available from each source on workers’ occupations.

There are links near the bottom of the guide to help you find where to go if you want even more information about each data source.

Check out our overview of statistics on pay and benefits. The first paragraph on that page has a link to the interactive guide. We often like to say, “We’ve got a stat for that!” When it comes to pay and benefits, we have lots of stats for that. Let us know how you like this new interactive guide.

Topics: Benefits and Compensation | Earnings and Wages | Geographic Information | Industries | Occupations | Productivity | U.S. Statistical System | Why This Counts
Tags: , , , , , ,

New BLS Local Data App Now Available

BLS has partnered with the U.S. Department of Labor’s Office of the Chief Information Officer to develop a new mobile app for iPhones that is now available for free in the App Store! Search “BLS Local Data.”

The BLS Local Data app is ideal for customers who want to know more about local labor markets, such as jobseekers and economic and workforce development professionals. You can search using your current location, a zip code, or a location name to find relevant data quickly without having to navigate through the huge BLS database. With one click, you can find data for states, metro areas, or counties.

Using the BLS API, the app quickly presents local data and national comparisons for unemployment rates, employment, and wages.

In the coming months, look for more features and data in the app. We’re already working on future releases that will include industry and occupation drilldowns and comparisons between local areas.

Check out the app and explore the wealth of local labor market data produced by BLS! And don’t worry, Android users! An Android version of the app will be available in the future.

iPhone screen image for BLS Local Data app

Topics: Earnings and Wages | Employment | Geographic Information | Industries | Occupations | U.S. Statistical System | Unemployment
Tags: , , , , , ,