Glossary

P

  • Part-Time Employees

Employees who usually work between 1 and 34 hours per week (at all jobs within an establishment) regardless of the number of hours worked in the reference week

  • Percentile Wage Estimate

Shows what percentages of workers in an occupation earn less than a given wage and what percentages earn more. For example:

O

  • Occupation

A set of activities or tasks that employees are paid to perform. Employees that perform essentially the same tasks are in the same occupation, whether or not they are in the same industry. Some occupations are concentrated in a few particular industries, other occupations are found in the majority of industries.

N

  • National Income and Product Accounts (NIPAs)

BEA's economic accounts that display the value and composition of national output and the distribution of incomes generated in its production.

M

  • Marginally Attached Workers

Individuals who want, and are available for work, and who have looked for a job sometime in the prior 12 months (or since the end of their last job if they held one within the past 12 months), but were not counted as unemployed because they had not searched for work in the four weeks preceding the survey. Discouraged workers are a subset of the marginally attached. (See definition of Discouraged workers above.)

L

  • Labor Market Information (LMI)

Labor Market can refer to the market for labor in a geographic area such as a metropolitan area, or the market for labor within an industry or industries; or the market for labor in specific occupations. The labor market can also refer to the availability of workers within a given area.

I

  • Implicit Price Deflator (IPD)

The ratio of the current-dollar value of a series, such as GDP, to its corresponding chained-dollar value, multiplied by 100.

  • Industry

A group of establishments that produce similar products or provide similar services. For example, Manufacturing, Construction, Health Care.

G

  • Gross Domestic Product (GDP)

The market value of goods and services produced by labor and property in the United States, regardless of nationality; GDP replaced GNP as the primary measure of U.S. production in 1991.

  • Gross National Product (GNP)

The market value of goods and services produced by labor and property supplied by U.S. residents, regardless of where they are located.