 |
Econometric Model
A set of related equations used to analyze economic data through mathematical and statistical techniques. Such models are devised to depict the essential quantitative relationships that determine the behavior of output, income, employment, and prices. Econometric models are used for forecasting, for estimating the likely quantitative impact of alternative assumptions (including those pertaining to government policies), and for testing various theories about the way the economy works.
Economic Indicators
A set of data that serves as a tool for analyzing current economic conditions and future prospects. Usually classified according to their timing in relationship to the ups and downs of the business cycle, that is, whether they anticipate (lead), coincide with, or lag behind general business conditions.
Economic Time Series
A set of data collected over regular time intervals (e.g., weekly, monthly, quarterly, annually) which measures some aspect of economic activity. The data may measure a large grouping such as Gross Domestic Product, or a narrow segment such as auto sales or the price of a commodity.
Employed Persons
Those individuals who are 16 years of age and over who worked for pay any time during the week which includes the 12th day of the month, or who worked unpaid for 15 hours or more in a family-owned business, and individuals who were temporarily absent from their jobs due to illness, bad weather, vacation, labor dispute, or personal reasons. Excluded are persons whose only activity consists of work around the house and volunteer work for religious, charitable, and similar organizations.
Reports: Local Area Unemployment Statistics
Employer Identification Number (EIN)
A 9-digit identification number assigned to employers by the U.S Internal Revenue Service.
Employment and Training Administration (ETA)
A part of the U.S. Department of Labor. This agency oversees the State UI programs and job training and placement services provided by State Employment Security Agencies.
Establishment
An economic unit that produces goods or provides services, usually at a single physical location and engages in one or predominantly one type of economic activity.
|
 |