FAQs

Labor Force and Payroll

What is Local Employment Dynamics?

The Local Employment Dynamics (LED) Partnership provides details about jobs, workers, and local economies and communities’ labor market conditions.  It is a federal (U.S Census Bureau) and state program that integrates existing data from state-supplied administrative records on workers and employers with existing U.S Census surveys, and other administrative records.

What are Quarterly Workforce Indicators (QWI)?

A time-series quarterly state- and county-level indicator dataset about employment, hiring, job creation, job flows, wages, new hires, separations and average earnings.  State Labor Market Information (LMI) agencies supply data from unemployment wage records and from businesses each quarter to LED, who merges LMI-supplied data with current demographic information.

What are new hires in QWI?

An estimated number of persons that worked for an employer in the specified quarter but were not employed by that employer in any of the previous four quarters.  “Stable” New Hires are new hires that work for at least three consecutive quarters.

What is turnover rate in QWI?

The average number of hires and separations at a given aggregation level, divided by average employment during the period at the same aggregation level (also known as job or employment churning).

What is Local Area Unemployment Statistics (LAUS)?

A federal (Bureau of Labor Statistics - BLS) and state program in which monthly estimates of total employment, unemployment and labor force data are provided for Census regions and divisions, states, counties, Metropolitan Statistical Areas (MSA), cities, and by place of residence.  The dataset is derived from current and historical data from the Current Population Survey (CPS), the Current Employment Statistics (CES) program, and state Unemployment Insurance (UI) systems.

What is labor force?

The labor force is made up of employed residents and those looking for work (unemployed). The remainder—those who have no job and are not looking for one—are counted as "not in the labor force." Labor force measures are based on the civilian non-institutional population 16 years old and over.  (Excluded are persons under 16 years of age, all persons confined to institutions such as nursing homes and prisons, and persons on active duty in the Armed Forces.) People who are neither employed nor unemployed are not in the labor force.

What is employment rate?

The employment rate is given by the number of employed residents over total labor force.

What is unemployment rate?

The unemployment rate is given by the number of unemployed residents over total labor force.

What are Current Employment Statistics (CES)? 

A monthly program administered by BLS that provides industry data on employment, hours, and earnings of workers on nonfarm payrolls.  Each month, state agencies cooperate with BLS, as well as BLS data collection centers, to collect data on employment, hours, and earnings from a sample of about 160,000 businesses and government agencies, which cover approximately 390,000 individual worksites drawn from over 8 million Unemployment Insurance tax accounts.  The active CES sample includes approximately one-third of all nonfarm payroll workers. Sample respondents extract the requested data from their payroll records.

What is Quarterly Census of Employment and Wages (QCEW)?

A program administered by BLS that publishes a quarterly count of employment and wages reported by employers at the county, MSA, state and national levels by industry.

The QCEW program derives its data from quarterly tax reports submitted to state Employment Security Agencies by over eight million employers subject to state UI laws and from Federal agencies subject to the Unemployment Compensation for Federal Employees (UCFE) program (approximately 96.2% of all wage and salary civilian employment).  These reports provide information on the number of people employed and the wages paid to the employees each quarter.  The program obtains information on the location and industrial activity of each reported establishment, and assigns location and standard industrial classification codes accordingly.  The establishment-level information is aggregated, by industry code, to the county level, and to higher aggregate levels.

What is annual average employment in QCEW?

The annual average of the twelve monthly employment counts.  Employment counts include all positions covered by unemployment insurance, irrespective of workers’ residence, part-time or full-time status or number of positions held by any given worker.

What is an establishment in QCEW?

An establishment is an individual economic unit.  One company with multiple units can report data on each individually.

What is total payroll in QCEW?

Total payroll is the sum of all wage payments to workers in a given quarter.  Wages include bonuses, stock options, profit distributions, the cash value of meals and lodging, tips and other gratuities, and employer contributions to certain deferred compensation plans such as 401(k) plans.

What is annual average wage in QCEW?

Annual average wage is the sum of the four quarters’ total payroll divided by annual average employment.

What is the difference between QCEW and CES employment data?

QCEW employment data are actual totals collected on a Quarterly basis from employers covered by UI Law. Monthly CES data are survey-based estimates.

Why are QCEW data suppressed?

UI data are confidential. In order to ensure the anonymity of individual employers, employment and wage data are not released for any industry level in any location that a) consists of fewer than three reporting units; or b) contains a single unit that accounts for 80 percent or more of the industry's employment.

Why is seasonal adjustment of CES employment data necessary?

For analyzing general employment trends in the economy, seasonally adjusted changes are usually preferred since they eliminate the effect of changes that normally occur at the same time and in about the same magnitude every year—such as price movements resulting from changing climatic conditions, production cycles, model changeovers, holidays, and sales.

What is “Full-Time Equivalent” (FTE)?

It is the number of full-time positions.  A full-time employee is one that works at least 35 hours or more per week.  Employees working less than 35 hours per week are considered part-time and two part-time employees are considered equivalent to one FTE employee.

Productivity

What is Gross Domestic Product (GDP)?

It is a measure of the value of the goods and services produced by the U.S. economy in a given time period.

What is Gross City Product (GCP)?

It is a measure of the value of the goods and services produced by the New York City economy in a given time period.

Real Estate and Construction

What do class A, B, and C office space include?

  • Class A: buildings competing for prime office users with above average rents for the area.  Buildings have high quality standard finishes, state-of-the-art systems, exceptional accessibility, and suggest a definitive market presence.
  • Class B: buildings competing for a wide range of office users with average rents for the area.  Building finishes are fair to good for the area and systems are adequate, but the buildings do not compete with class A at the same price.
  • Class C: buildings competing for tenants requiring functional space at below average rents for the area.

What is vacancy rate?

Direct vacancy rate is vacant space available for lease by the landlord divided by the total space inventory. Overall vacancy rate is vacant space available for lease both directly and through sublease divided by the total space inventory.  Space in properties under construction or under renovation is not included in either definition.

What is rental rate?

Direct rental rates are gross asking rates per square foot for space leased directly by landlords, weighted by the amount of square footage available.  Overall rental rates are gross asking rates per square foot for direct and subleased space, weighted by the amount of square footage available.

What are construction projects?

The number of projects started in a given time period.  All project start counts include new construction as well as additions and alterations to existing buildings and infrastructures.

What are residential projects?

The count of the number of residential building (not dwelling units) project starts in a given time period.

What are dwelling units?

The number of individual housing units within each residential project (i.e. the total number of apartments within each apartment building).

What are non-residential projects?

The number of projects started on buildings whose purpose is anything other than residential (e.g. offices, schools).

What are non-building projects?

The number of construction starts on infrastructure work (e.g. bridges, gas systems, streets).

Living in New York City

What is subway ridership?

The number of rides taken on the subway counted by MetroCard swipes during a given time period.

What is the Consumer Price Index (CPI)?

Published by BLS, it is a measure of inflation given by changes in the prices paid by urban consumers for a set basket of goods and services.  The “All Urban Consumers” CPI is based on expenditures for almost all urban or metropolitan area residents, including professionals, the self-employed, the poor, the unemployed, and retired people, as well as urban wage earners and clerical workers.  The “Urban Wage Earnings and Clerical Workers” CPI is based on expenditures of households with more than one-half of their income coming from clerical or wage occupations, and at least one of the household's earners employed for a minimum of 37 weeks during the previous 12 months. The CPI indices for New York are available at the MSA level.

Travel and Tourism

What is occupancy rate?

The number of hotel rooms sold divided by the total room inventory.

What is average daily room rate?

The total room revenue divide by the number of rooms sold.

What is a visitor?

Someone who does not primarily live or work in New York City.

What is a business visitor?

A visitor to the City for business purposes (e.g. meetings, conferences).

What is a leisure visitor?

A visitor to the City for leisure purposes (e.g. visiting family, shopping, sightseeing).

What is a delegate?

A visitor to the City for purpose of a group meeting (e.g. tradeshow, convention, corporate meeting, or seminar).

Tax Estimation and Impact Analyses

What is a cost-benefit Regional Input-Output Modeling System (RIMS II) analysis?

A RIMS analysis is used to quantify the economic and fiscal impact of NYCEDC's investment projects. The economic impact estimates in the cost-benefit model rely on RIMS II, input-output data provided by the Bureau of Economic Analysis (BEA), United States Department of Commerce.  The application of the model is explained in the New York City Industrial Development Agency (NYC IDA) supplement. 

What is Net Present Value (NPV)?

It is the total present value for a time series of cash flows.  It is an indicator of how much value an investment or project adds to the economy.

What is a Visitor Economic Impact model?

An economic impact analysis is generally provided for events, shows and festivals that take place in New York City and are expected to be of sufficient size  to generate a substantial impact on the City’s economy.  The total economic impact generated by an event includes direct (visitor spending and operations), indirect and induced effects.  Expenditures at the event by residents are not considered additional to the City’s economy as they are generally offset by lower spending on other goods and services.

Other

What are North American Industry Classification (NAICS) codes?

The NAICS system was developed as the standard for use by Federal statistical agencies in classifying business establishments for the collection, analysis, and publication of statistical data related to the U.S. economy.  NAICS was adopted in 1997 to replace the old Standard Industrial Classification (SIC) system. NAICS was developed in cooperation with the statistical agencies of Canada and Mexico to establish a 3-country standard that allows for a high level of comparability in business statistics among the three countries.

What is net domestic migration?

The difference between domestic in-migration to an area and domestic out-migration from the same area during a time period. Domestic in- and out-migration consist of moves where both the origin and the destination are within the United States (excluding Puerto Rico).

What is net international migration?

Any change of residence across the borders of the United States (50 states and District of Columbia)