TABLE OF CONTENTS 1

FEB 2016

Fast Facts - VALENTINE’S DAY Map Facts - PERCENT CHANGE IN REAL MEDIAN HOUSEHOLD INCOMEFeature - BUSINESS BIRTHS

2

Table of Contents

DEC UNEMPLOYMENT DATA

FAST FACTS

MAP FACTS

OPENINGS & EXPANSIONS

BUSINESS BIRTHS

ECONOMIC INDICATORS

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4

6

8

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14

Helpful Links

Unemployment in Brief

Monthly Unemployment Rate

Previous Issues

NEworks

CREDITS

Nebraska Workforce Trends is published by the Nebraska Department of Labor - Labor Market Information Center in cooperation with the U.S.

Department of Labor, Bureau of Labor Statistics.

This workforce product was funded by a grant awarded by the U.S. Department of Labor’s Employment and Training Administration. The product was created by the recipient and does not necessarily reflect the official position of the U.S. Department of Labor. The Department of Labor makes no guarantees, warranties, or assur-ances of any kind, express or implied, with respect to such information, including any information on linked sites and including, but not limited to, accuracy of the information or its completeness, timeliness, usefulness, adequacy, continued avail-ability, or ownership. This product is copyrighted by the institution that created it. Internal use by an organization and/or personal use by an individual for non-commercial purposes is permissible. All other uses require the prior authorization of the copyright owner.

Commissioner of LaborJohn H. Albin

LMI Administrator Phil Baker

Editor Scott Hunzeker

Editor Grace Johnson

EditorJennifer Gildersleeve

Graphic DesignerBrittney Lippincott

TABLE OF CONTENTS 3

DECEMBER UNEMPLOYMENT DATAByron Lefler, Research Analyst

LINCOLN MSA (not seasonally adjusted) December Unemployment Rate: 2.3% December Total Non-farm: 191,399Manufacturing: 14,225Largest OTM Increases:Trade, Transportation, & Utilities: 328 (0.9%)Education & Health Services: 116 (0.4%)

OMAHA MSA (not seasonally adjusted) December Unemployment Rate: 3.0%December Total Non-farm: 497,774Manufacturing: 31,414Largest OTM Increases: Education & Health Services: 1,400 (1.7%)Trade, Transportation, & Utilities: 487 (0.5%)

GRAND ISLAND MSA (not seasonally adjusted) December Unemployment Rate: 3.2%December Total Non-farm: 42,896Change (OTM): 73 (0.2%)Change (OTY): -242 (-0.6%)

NEBRASKA (not seasonally adjusted)December Total Non-farm: 1,014,529 Manufacturing: 94,699Nebraska (smoothed seasonally adjusted)December Unemployment Rate: 2.9%Change (OTM): Unchanged at 2.9%Change (OTY): -0.2% Economic Regions (not seasonally adjusted)Central: 2.4% Mid Plains: 2.6% Northeast: 3.1% Panhandle: 2.8% Sandhills: 2.5% Southeast: 2.8%

Sources: 1. Bureau of Labor Statistics Current Employment Statistics Program (CES)2. Bureau of Labor Statistics Local Area Unemployment Statistics (LAUS)

DECEMBER UNEMPLOYMENT RATES BY COUNTY*

Cherry2.2 Holt

2.3

Custer2.1

Sioux2.8

Lincoln2.6

Sheridan2.7

Morrill2.5 Garden

3.1

Knox3.1

Keith2.7

Dawes2.7

Rock2.6

Brown4.0

Gage3.0

Hall3.4

Dundy1 .9

Chase1 .5

Buffalo2.2

Grant2.3

Clay3.0

Kimball2.7

York2.4

Frontier2.9

Otoe2.8

Dawson2.9

Cedar2.5

Platte3.2

Arthur4.4

Burt4.1

Perkins1 .8

Cheyenne2.1

Hayes2.4

Blaine4.0

Loup3.8

Box Butte3.1

Cass3.1

Boyd2.4

Boone2.4Banner

3.2

Polk2.1

Butler2.6

Furnas2.3

Hooker3.9

Antelope2.7

Saline3.1

Valley2.7

Pierce2.4

Logan2.6

Thomas2.1

Lancaster2.3

Dixon3.5

Harlan2.1

Adams2.9

Thayer2.5

Dodge3.0

Phelps2.1

Saunders2.6

McPherson2.4

Deuel2.0

Howard2.7

Cuming2.5

Seward2.6

Greeley2.8

Fillmore2.3

Hitchcock3.2

Garfield2.1

Franklin2.5

Keya Paha2.0

Webster2.7

Nance2.7

Madison2.6

Wheeler2.0

Nuckolls2.8

Colfax2.4

Gosper2.0

Scotts Bluff3.1

Jefferson2.5

Wayne2.5

Sherman3.1

Red Willow2.6

Kearney2.1

Hamilton2.3

Pawnee2.3

Richardson2.9

Johnson3.1

Douglas3.0

Merrick3.0

Stanton2.4

Nemaha3.1

Thurston5.2

Sarpy2.7

Dakota5.0

Washington2.8

County Rates

1 .5 - 2.3

2.4 - 2.8

2.9 - 3.5

3.6 - 4.4

4.5 - 5.2

*Not seasonally adjusted

4

FAST FACTS: VALENTINE’S DAY Jennifer Gildersleeve, Research Analyst

Valentine’s Day is a time many people across the country express love for one another by exchanging cards, flowers, candy and other gifts. Presented below are select facts from the U.S. Census Bureau and Bureau of Labor Statistics relating to this holiday.

Percentage of people 15 and older who reported being married, except those separated.

399 dating service establishments nationwide in 2012, including

internet dating services, employing 2,348 people.

47.7%

235,701 employing 4,896,174 people;

14,161 employing

62,222 people

$26,520

52.5%

1,418 employing

28,377 people

138 employing

590 people

$24,230

Nebraska

Nebraska

United States

United StatesFull-service restaurants in 2013.

Number of florists’ establishments nationwide in 2013.

Average annual wage for floral designers in 2014.

$272,180,347: The value of imports nationwide for cut flowers and buds for bouquets in 2014

through October. The total value of fresh cut roses as of October 2014 was $381,757,889.

NebraskaUnited States

TABLE OF CONTENTS 5

SOURCES: 1. U.S. Census Bureau, Facts for Features: Valentine’s Day 2016. January 8, 2016. http://www.census.gov/newsroom/

facts-for-features/2016/cb16-ff02.html

2. U.S. Census Bureau, County Business Patterns: 2013, NAICS code 311351, 311352, 31134, 445292, 4531, 448310, 339910. Released April 2015. http://www.census.gov/econ/cbp/index.html

3. U.S. Census Bureau, 2014 American Community Survey 1-Year Estimates, Tables B12007, S1201 http://factfinder.cen-sus.gov/

4. Bureau of Labor Statistics, Occupational Employment Statistics, May 2014 Occupational Employment and Wage Esti-mates, SOC codes 27-1023& 51-9071, National & Nebraska. http://www.bls.gov/oes/tables.htm

Number of manufacturing establishments that produced chocolate and cocoa products in 2013.

Annual average wage of jewelers and precious stone and metal workers in 2014.

1,185 employing

38,717 people

448 employing 19,308 people

23,096 employing

126,305 people

114 employing

827 people

$40,350

3

2

$38,050

Nebraska

Nebraska

United States

United States

$14.9 billion: value of nationwide chocolate and cocoa product shipments for manufacturing establishments that produced these products in 2014.

Number of establishments that manufactured non-chocolate confectionary products in 2013.

Number of jewelry stores in 2013. In February 2013,

these stores sold an estimated $2.5 billion in merchandise.

$9.3 billion: Non-chocolate confectionery product manufacturing, value of nationwide product shipments in 2014.

6

MAP FACTS: PERCENT CHANGE IN REAL MEDIAN HOUSEHOLD INCOME Dillon Cornett, Research Analyst

With the release of the latest American Com-munity Survey (ACS) statistics, users are able, for the first time ever, to compare two non-overlapping five-year data sets (2005-2009 and 2010-2014). The largest ongoing household survey in the nation, ACS, now allows users to analyze trends for social or economic characteristics more frequently for even the smallest areas.1

This month’s map focuses on the percent change in real median household income uti-lizing data from the 2005-2009 ACS survey and the 2010-2014 ACS survey. As defined by the U.S. Census Bureau, median household income includes the incomes of the house-holder and all others 15 years and older in the household.2 For median household income to

be comparable over time, it must converted from a nominal value to a real value by adjust-ing for inflation. In order to compare income estimates between datasets, the 2005-2009 ACS estimates were inflation-adjusted from 2009 dollars to 2014 dollars using CPI data from the Bureau of Labor Statistics.3

The national real median household income, based on the 2005-2009 ACS survey, was $56,743, and decreased to $53,482 based on the 2010-2014 ACS data. The decrease in real median household income nationally represents a 5.7 percent negative change in income. When ranking states by greatest positive percent change, Nebraska ranks 9th (when including the District of Columbia) nationally, at -1.1 percent.

REAL MEDIAN HOUSEHOLD INCOME PERCENT CHANGE

»

Cherry8.5%

Custer-5%

Holt1 0.3%

Sioux-1 5%

Lincoln-0.1 %

Sheridan1 8.4%

Garden11 .4%

Morrill1 0.3%

Keith-6%

Dawes20.4%

Brown1 7.7%

Knox1 2.1 %

Gage6.9%

Rock27.9%

Dundy1 2.6%

Chase1 8.1 %

Buffalo2.9%

Kimball-4.9%

Frontier5.9%

Dawson6.7%

Cedar5.7%

Grant1 0.9%

Platte3.8%

Otoe0.7%

Perkins1 0.6%

Cheyenne4.1 %

Hayes1 2.1 %

Blaine22.4%

Box Butte-0.6%

Cass-5%

Boone-2%Banner

29.4%Arthur-1 6.8%

Butler-1 .3%

Furnas-3.8%

Hooker-3.1 %

York-2.1 %

Antelope1 4.7%

Saline-7.6%

Hall-3.6%

Clay1 5.9%

Pierce1 .5%

Logan-4.5%

Loup59.3%

Valley1 3.1 %

Thomas1 5.2%

Lancaster-6.3%

Dixon7.1 %

Harlan7.3%

Adams4.5%

Burt-1 .7%

Thayer1 1 .6%

Dodge-3.1 %

Phelps6.8%

Saunders-3%

McPherson3%

Howard0.2%

Cuming7.9%

Seward-1 .7%

Greeley2.1 %

Fillmore11 .1 %

Hitchcock-1 0.3%

Garfield6.8%

Polk1 1 .7%

Franklin1 7.5%

Keya Paha3.9%

Deuel1 8.2%

Webster-0.4%

Nance2.8%

Madison0.6%

Wheeler-6.9%

Nuckolls1 9.8%

Colfax2.8%

Gosper4.3%

Scotts Bluff1 1 .8%

Jefferson3.8%

Wayne1 0.9%

Sherman1 4.2%

Red Willow-0.3%

Kearney1 .1 %

Hamilton6.6%

Pawnee-1 5.9%

Richardson0.7%

Johnson-8.5%

Douglas-3.3%

Boyd9.9%

Merrick-2.6%

Stanton6.4%

Nemaha3.7%

Thurston-9.5%

Sarpy-2.5%

Dakota-1 .4%

Washington1 .6%

Percent Change

-17.0% - -7.0%

-7.1% - 1.0%

1.1% - 8.0%

8.1% - 22.0%

22.1% - 60.0%

Source: US Census Bureau, American Community Survey

TABLE OF CONTENTS 7

Six states in the U.S., and the District of Columbia, had positive percent changes in median household income, while 44 states and Puerto Rico had negative percent changes in median household income during this time period. The U.S. states with the greatest negative percent changes in median household income were Nevada (-14.9 per-cent), Arizona (-10 percent), Florida (-9.8 percent), and Georgia (-9.6 percent), while real incomes grew by the highest percentage in North Dakota (11.6%) and the District of Columbia (11.0%).4,5

According to the U.S. Census Bureau, real median household income increased nation-ally in 187 counties (6 percent), decreased in 991 counties (31.5 percent), and did not sig-nificantly change in 1,964 counties (62.5 per-cent).In Nebraska, median household income increased in 61 counties (65.6 percent) and decreased in 32 counties (34.4 percent).1

The percent change in real median household income for all counties in Nebraska ranged from negative 16.8 percent in Arthur County to positive 59.3 percent in Loup County. Relatively, real median household income in

Lancaster County fell more than the national average, at -6.3 percent, while it fell less than that national average in Douglas and Sarpy counties (-3.3 percent and -2.5 percent, respectively). In the Grand Island Metropoli-tan Statistical Area (MSA), Hamilton County (6.6 percent) had the highest positive per-cent change in real median household income while Hall had the lowest (-3.6 percent).4,5

TOP 10 REAL MEDIAN HOUSEHOLD INCOME CHANGES BY STATE

States Percent Change

North Dakota 11.6%

District of Columbia 11.0%

South Dakota 1.8%

Wyoming 1.5%

West Virginia 0.9%

Alaska 0.7%

Oklahoma 0.1%

Iowa -0.6%

Nebraska -1.1%

Texas -1.1%

Source: U.S. Census Bureau, American Community Survey

SOURCES: 1. United States Census Bureau, Newsroom. From Education to Housing Costs, the American Community Survey Pro-

vides 10 Years of Local Statistics for Every Community Nationwide. [Cited: December 9, 2015.] http://www.census.gov/newsroom/press-releases/2015/cb15-206.html

2. United States Census Bureau, State & County QuickFacts. Median Household Income. [Cited: December 9, 2015.] http://quickfacts.census.gov/qfd/meta/long_INC110212.htm

3. United States Census Bureau, American Community Survey. Comparing 2005-2009 ACS 5-year and 2010-2014 ACS 5-year. [Cited: December 9, 2015.] https://www.census.gov/programs-surveys/acs/guidance/compar-ing-acs-data/2014/5-year-comparison.html

4. United States Census Bureau, American Fact Finder. 2005-2009 American Community Survey 5-Year Estimates; Table B19013. Median Household Income in the Past 12 Months (In 2009 Inflation-Adjusted Dollars); [Online] [Cited: December 8, 2015.]

5. United States Census Bureau, American Fact Finder. 2010-2014 American Community Survey 5-Year Estimates; Table B19013. Median Household Income in the Past 12 Months (In 2014 Inflation-Adjusted Dollars); [Online] [Cited: Decem-ber 8, 2015.]

8

Kermit SpadeResearch Analyst

8

DECEMBER

SOURCES:Lincoln Chamber of Commerce

NDOL Staff

OTHER

OTHER

OTHER OTHER

TYPE OF BUSINESS NAME

FOOD & ENTERTAINMENT

RETAIL/SALES

HEALTH & EDUCATION

BUSINESS SERVICES

Smart Rooms

Casey’s General Store

Advanced Chiropractic Solutions

Lincoln Family Dentistry

Labor Ready

MIT Images

Regus

LINCOLN OPENINGS & EXPANSIONS STATEWIDE OPENINGS & EXPANSIONS

PANHANDLE

SCOTTSBLUFF24/7 FitnessMorrill Library - Expansion

SIDNEYSidney Regional Medical Center

CENTRAL

GRAND ISLAND/HASTINGSHarbor Freight Systems

SOUTHEAST

BEATRICE Landmark Snacks, LLC

NEBRASKA CITYNC Nutrition

PLATTSMOUTHPlattsmouth Pickers Paradise

YORKDragonfly Studios All Things Consignment Shop RJ’s Auto Sales

TABLE OF CONTENTS 9

BUSINESS BIRTHS Scott Hunzeker, Research Supervisor

Each month, Nebraska’s Office of Labor Market Information, in cooperation with the Bureau of Labor Statistics (BLS), publishes non-farm employment from the Current Employment Statistics (CES) program, as well as labor force data from the Local Area Unemployment Statistics (LAUS) program. This data is closely monitored, as employment shifts are used as a gauge for the economic well-being of the nation, states, and metro areas.

While both the LAUS and CES programs provide valuable employment trends that are as close to real time as possible, the data doesn’t tell the whole story. Although both programs provide the net changes from the prior month, there is a large amount of churn

in the labor force from business openings, closings, expansions, and contractions that is not easily seen. This part of the picture is vital, because the ability to study the number of new businesses in an area or industry can provide key information to stakeholders regarding the forces driving changes to employment in a region.

BUSINESS EMPLOYMENT DYNAMICS

One program that provides some of the data not available from other sources regarding the number of new businesses, as well as gross employment gains and losses, is the Bureau of Labor Statistics (BLS)’ Business Employ-ment Dynamics program. This data is created by linking quarterly files from the Quarterly

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Source: Business Employment Dynamics state data, Table 11 *Not seasonally adjusted

BUSINESS EMPLOYMENT DYNAMICS - NEBRASKA ESTABLISHMENT BIRTHS & DEATHS* »

10

Census of Employment & Wages (QCEW) program, which allows for tracking of employ-ment shifts at the establishment level.

At the national level, Business Employment Dynamics information is available by industry, business size, amount of employment change, business age, business survival rates, and other details. The level of detail available at the state level, however, is much more limited and there is no program data published for sub-state areas such as metro areas or counties.

The chart on the previous page shows busi-ness establishment births and deaths for Nebraska from the Business Employment Dynamics program. Similar data tables and charts are available from this program for Nebraska to show employment changes resulting from business openings, closings, births, and deaths.

Though the data may be interesting, espe-cially when paired with other sources, details that provide some context (such as the rea-son for the large spike in business births in 2012) are lacking. However, the Office of Labor Market Information maintains datasets that can be queried to obtain specifics that are not readily available from other sources such as the Business Employment Dynamics program.

NEW BUSINESS BIRTHS

For the purposes of this analysis, a new busi-ness birth is being defined as the assign-ment of a new Unemployment Insurance (UI) account number. All employers deemed liable for UI taxes are assigned a unique identifica-tion number and are required to begin send-ing quarterly reports to the UI Tax Division.

* Suppressed to maintain confidentiality

2014 Q1 2014 Q2 2014 Q3 2014 Q4 Total

Accommodation & Food Services 103 124 102 93 422

Administrative & Support & Waste Management & Remediation Services 119 118 90 55 382

Agriculture, Forestry, Fishing & Hunting 37 11 19 17 84

Arts, Entertainment, & Recreation 18 23 18 13 72

Construction 175 173 159 125 632

Educational Services 8 13 17 6 44

Finance & Insurance 82 56 73 56 267

Health Care & Social Assistance 490 432 477 466 1,865

Information 20 20 13 16 69

Management of Companies & Enterprises * * * * 18

Manufacturing 28 25 21 14 88

Mining, Quarrying, & Oil & Gas Extraction * * * * *

Other Services (except Public Administration) 128 72 76 84 360

Professional, Scientific, & Technical Services 244 178 197 178 797

Real Estate & Rental & Leasing 37 25 31 38 131

Retail Trade 82 85 72 60 299

Transportation & Warehousing 80 47 40 44 211

Utilities * * * * *

Wholesale Trade 125 107 95 102 429

Total 1,795 1,515 1,508 1,371 6,189

2014 PRIVATE ESTABLISHMENT BUSINESS BIRTHS BY INDUSTRY SECTOR

TABLE OF CONTENTS 11

Part of the process involved in setting up a new account is assigning a North American Industry Classification System (NAICS) code, which is based on the business activities of the employer. The county(ies) in which the business operates are also reported as part of the registration process.

The Office of Labor Market Information main-tains records of employment and wages by industry, county, and ownership related to these UI account numbers as part of the Quarterly Census of Employment & Wages (QCEW) program. Customized analysis of newly-assigned employer account numbers can provide a wealth of information on new business births that are not available from other sources. This data can be analyzed even further for more detailed industries and geog-raphies across time, giving the ability to cre-ate many different customized reports.

The table on the previous page uses administrative records to show the number of private (non-government) establishment births by industry sector in 2014, which is the most current complete year available. These figures include all new Unemployment Insurance account numbers assigned in Nebraska, which include new start-ups, businesses from other states establishing a presence in Nebraska, new identification numbers resulting from business transfers, consolidations, ownership changes, and any other situation that causes an employer to become liable under Nebraska Employment Security Law.

As shown on the previous page, over 30 per-cent of new business births in 2014 were in the health care and social assistance sector. Without additional details, it would seem that this industry sector experienced significant growth throughout 2014.

Establishments Employment Total Wages Avg. Quarterly Wage

Child Day Care Services 39 400 $1,424,429 $3,564

Community Food & Housing, & Emergency & Other Relief Services 9 15 $155,829 $10,163

Continuing Care Retirement Communities & Assisted Living Facilities for the Elderly 6 118 $723,203 $6,112

General Medical & Surgical Hospitals * * * $11,829

Home Health Care Services 6 40 $300,475 $7,450

Individual & Family Services 1,595 1,548 $5,394,821 $3,484

Medical & Diagnostic Laboratories 4 * * $13,705

Nursing Care Facilities (Skilled Nursing Facilities) * * * *

Offices of Dentists 32 132 $1,116,005 $8,455

Offices of Other Health Practitioners 73 176 $1,619,445 $9,201

Offices of Physicians 63 1,640 $17,875,108 $10,897

Other Ambulatory Health Care Services 7 * * $21,964

Outpatient Care Centers 8 120 $1,460,047 $12,133

Speciality (except Psychiatric & Substance Abuse) Hospitals * * * *

* Suppressed to maintain confidentiality

HEALTH CARE & SOCIAL ASSISTANCE - 2014 PRIVATE BUSINESS ESTABLISHMENT BIRTHS: EMPLOYMENT & WAGES 1ST Q, 2015

12

Not only can the data be split out into a finer level of industry detail, but employment and wage totals can be examined as well to pro-vide a more complete picture of these new business births.

The table on page 11 shows a breakout of the health care and social assistance sector by four-digit (NAICS) industry group. Included are employment and wages in the first quarter of 2015 for new establishments in 2014. While the vast majority of business births in health care and social assistance establishments were in individual and family services, this industry group averaged less than one employee per establishment in the first quarter of 2015 and the average quarterly wage was the lowest of all groups. Offices of physicians had the highest employment and total wages.

Further drilling down of available details shows that, of the business births in the indi-vidual and family services industry group in 2014, nearly all were in the detailed industry of “services for the elderly and persons with disabilities.” In fact, over one-fourth of all new Nebraska businesses in 2014 fell into that detailed industry.

Examining data over time can often help put things into context; the number of new busi-nesses in services for the elderly and persons with disabilities is one such example.

A change in how employment is reported for federal tax purposes for people providing care to individuals with disabilities and the elderly took effect in January 2012. Many people who had previously been reported under a single Unemployment Insurance account number were split into separate accounts, which meant the addition of nearly 5,000

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SERVICES FOR THE ELDERLY & PERSONS WITH DISABILITIES

PRIVATE HOUSEHOLDS

Q4Q3Q2Q1Q4Q3Q2Q1Q4Q3Q2Q1Q4Q3Q2Q1Q4Q3Q2

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Q1

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SERVICES FOR THE ELDERLY & PERSONS WITH DISABILITIES

PRIVATE HOUSEHOLDS

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Q1

Source: Nebraska Department of Labor, Nebraska Longitudinal Data System

BUSINESS BIRTHS - PRIVATE HOUSEHOLDS & SERVICES FOR THE ELDERLY & PERSONS WITH DISABILITIES »

Individuals & Family Services Group

Establishment Births

Child & Youth Services 5

Other Individual & Family Services

14

Services for the Elderly & Persons with Disabilities

1576

Total 1595

HEALTH CARE & SOCIAL ASSISTANCE - 2014 PRIVATE BUSINESS ESTABLISHMENT BIRTHS

TABLE OF CONTENTS 13

new business births showing in first quarter of 2012. Initially these new accounts were assigned an NAICS code of 814110, private households. A subsequent review by the BLS resulted in these new accounts being coded in NAICS 624120, services for the elderly and persons with disabilities, starting in 2013 for consistency in all states. These two NAICS codes are isolated in the chart on the previous page to show the impact of this reporting change on new business births recorded by NAICS code over time.

The spike in the chart on the previous page should look familiar – it’s the same spike seen in the Business Employment Dynamics chart earlier in this article. The difference is that instead of only knowing how the total num-ber of business births changed over time, the exact industries causing the changes are shown. In this instance, reasons for the changes in reporting that resulted in the spike in new business births were known in advance, so the data could easily be dis-played.

SOURCES:1. Bureau of Labor Statistics, Business Employment Dynamics. Table 11. Private sector establishment births and deaths,

not seasonally adjusted, Nebraska http://www.bls.gov/web/cewbd/ne_table11.txt Referenced 12/17/15

2. Nebraska Department of Labor, Employer’s Guide to Unemployment Insurance: http://dol.nebraska.gov/webdocs/Resources/Items/Employer%20Guide%202015.pdf Referenced 12/31/15

3. Nebraska Department of Labor, Nebraska Longitudinal Data System administrative records. Extracted 12/30/15

Similar data analysis can be done to track establishments, employment, wages, or other data elements resulting from law or policy changes, or specific efforts to influence cer-tain industries.

A significant amount of resources go into economic development efforts to attract and grow Nebraska businesses. Reliable, detailed information that can be used to track out-comes is imperative to identify the strategies that are most effective. Business character-istics, along with other data elements, can be used in combination to answer all kinds of research questions related to Nebraska’s economy. Business births by industry detail, geography, and across time only provide a small glimpse into the kinds of reports that can be produced by Nebraska’s Office of Labor Market Information.

Examples of customized data available from the

Office of Labor Market Information:

• Detailed information on new Nebraska workers

• Industry trends across time

• Geographic details

• Information on the employed

• New business start-ups

• Where college graduates are working

Contact us by email at LMI_NE@nebraska.gov or

by phone at 402-471-2600.

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Producer Price Index

ECONOMIC INDICATORS PRODUCER PRICE INDEXKermit Spade, Research Analyst

In each new issue of Trends, the economic indicators section will feature a chart or graph focused on one of the economic indicators listed above. This month, we’ll be focusing on the Producer Price Index.

According to the Bureau of Labor Statistics, “The Producer Price Index (PPI) measures average changes in prices received by domestic producers for their output.” Most of the infomation used in calculating producer price indexes is obtained through the systematic sampling of virtually every industry in the mining and manufacturing sectors of the economy. The Finished Goods Price Index is one of the nation’s most closely watched indicators of economic health. Movements in this index often are considered to presage similar changes in inflation rates for retail markets, as measured by the BLS Consumer Price Index. Producer Price Index data for capital equipment are used by the U.S. Department of Commerce to calculate the gross domestic product (GDP) deflator and many of its components.1

PRODUCER PRICE INDEX

TEXT SOURCES: 1. Bureau of Labor Statistics. Handbook of Methods, Chapter 14. Handbook of Methods. [Online] [Cited: 12 14, 2015.]

http://www.bls.gov/opub/hom/pdf/homch14.pdf.

2. The Conference Board. Description of Components. conference-board.org. [Online] [Cited: 12 14, 2015.] https://www.conference-board.org/data/bci/index.cfm?id=2160#BCI01.

TABLE OF CONTENTS 15

Change Over Last Quarter/Month

METRIC CURRENT TIME PERIOD

UNITED STATES

MIDWEST REGION

NEBRASKA

Average Weekly Manufacturing Hours November, 2015 +0.0 - -1.3

Initial Unemployment Claims December, 2015 +1.1% - +52.9%

Value of Manufacturers' New Orders for Con-sumer Goods

November, 2015 -0.1% - -

ISM Manufacturing: New Orders Index© December, 2015 +0.6% - -

Value of Manufacturers' New Orders: Nondefense Capital Goods Excluding Aircraft

November, 2015 -0.3% - -

S&P 500© December, 2015 +1.3%% - -

Leading Economic Index November, 2015 +1.5% - +1.5%

10-Year Treasury Constant Maturity Minus Fed-eral Funds Rate

December, 2015 +2.0% - -

University of Michigan, Consumer Sentiment Index

December, 2015 +1.4% - -

Consumer Price Index, not seasonally adjusted November, 2015 -0.2% -0.5% -

Employment Cost Index 3rd Quarter, 2015 +0.6% - -

Producer Price Index: All Commodities November, 2015 -1.0% - -

Unemployment Rate, seasonally adjusted December, 2015 0.0% 0.1%* 0.0%*

Real GDP, billions of chained 2009 dollars 3rd Quarter, 2015 +2.0% - -

Net Taxable Sales October, 2015 -2.2% - -

Barrel of Crude Oil, WTI-Cushing, Spot Price December, 2015 -$5.23 - -

Current Account Balance (millions of dollars) 2nd Quarter, 2015 $8,204

SOURCES:1. Bureau of Labor Statistics. Customized Tables; State and Area Employment,

Hours and Earnings. Bureau of Labor Statistics. [Online] http://data.bls.gov/cgi-bin/dsrv?sm.

2. US. Employment and Training Administration. 4-Week Moving Average of Initial Claims. Federal Reserve Economic Data. [Online] http://research.stlouisfed.org/fred2/series/IC4WSA.

3. —. Initial Claims in Nebraska. Federal Reserve Economic Data. [Online] http://research.stlouisfed.org/fred2/series/NEICLAIMS.

4. US. Bureau of the Census. Value of Manufacturers’ New Orders for Consumer Goods Industries. Federal Reserve Economic Data. [Online] http://research.stlouisfed.org/fred2/series/ACOGNO.

5. Institute for Supply Management. ISM Manufacturing: New Orders Index©. Federal Reserve Economic Data. [Online] http://research.stlouisfed.org/fred2/series/NAPMNOI.

6. US. Bureau of the Census. Manufacturers’ New Orders: Nondefense Capital Goods Excluding Aircraft. Federal Reserve Economic Data. [Online] http://research.stlouisfed.org/fred2/series/NEWORDER.

7. S&P Dow Jones Indicies LLC. S&P 500©. Federal Reserve Economic Data. [Online] http://research.stlouisfed.org/fred2/series/SP500.

8. Federal Reserve Bank of Philadelphia. Leading Index for the United States. Federal Reserve Economic Data. [Online] http://research.stlouisfed.org/fred2/series/USSLIND.

9. —. Leading Index for Nebraska. Federal Reserve Economic Data. [Online] http://research.stlouisfed.org/fred2/series/NESLIND.

10. Federal Reserve Bank of St. Louis. 10-Year Treasury Constant Maturity Minus Federal Funds Rate. [Online] https://research.stlouisfed.org/fred2/series/T10YFF.

11. Survey Research Center, University of Michigan. Survey of Consumers. University of Michigan. [Online] http://www.press.sca.isr.umich.edu/press/press_release.

12. Bureau of Labor Statistics. Consumer Price Index for All Urban Consumers: All Items. Federal Reserve Economic Data. [Online] http://research.stlouisfed.org/fred2/series/CPIAUCNS.

13. Consumer Price Index for All Urban Consumers: All items in Midwest urban. Federal Reserve Economic Data. [Online] http://research.stlouisfed.org/fred2/series/CUUR0200SA0.

14. —. Employment Cost Index. Customized Tables. [Online] http://data.bls.gov/cgi-bin/dsrv?ci.

15. —. Producer Price Index for All Commodities. Federal Reserve Economic Data. [Online] http://research.stlouisfed.org/fred2/series/PPIACO.

16. Civilian Unemployment Rate. Federal Reserve Economic Data. [Online] http://research.stlouisfed.org/fred2/series/UNRATE.

17. Unemployment Rate in Midwest Census Region. Federal Reserve Economic Data. [Online] http://research.stlouisfed.org/fred2/series/CMWRUR.

18. Unemployment Rate in Nebraska. Federal Reserve Economic Data. [Online] http://research.stlouisfed.org/fred2/series/NEUR.

19. U.S. Department of Commerce: Bureau of Economic Analysis. Real Gross Domestic Product. Federal Reserve Economic Data. [Online] http://research.stlouisfed.org/fred2/series/GDPC1.

20. Nebraska Department of Revenue. Non-Motor Vehicle Sales Tax Collections. Nebraska Department of Revenue. [Online] http://www.revenue.nebraska.gov/research/net_taxable_sales/sales_14/2014_non-mv.html.

21. U.S. Energy Information Administration. Crude Oil Prices: West Texas Intermediate (WTI) - Cushing, Oklahoma. Federal Reserve Economic Data. [Online] http://research.stlouisfed.org/fred2/series/MCOILWTICO.

22. Bureau of Economic Analysis. Balance of Payments on the Current Account. http://research.stlouisfed.org/fred2/series/IEABC

16

Nebraska Department of LaborOffice of Labor Market Information550 S 16th StreetLincoln NE 68508

Telephone 800.876.1377Email ndol.lmi_ne@nebraska.gov

Equal Opportunity Employer/Program.Auxiliary aids and services are available upon request to individuals with disabilities.TDD: 1.800.833.7352