Labor Income Events are most appropriate to use when an analyst intends to model a change in labor payments isolated from an industry’s production. When creating a Labor Income Event in IMPLAN, analysts may specify whether the income is earned by wage and salary employees, by sole proprietors, or some combination of the two. However, they cannot specify the specific household income categories which will receive that income.
A job in IMPLAN = the annual average of monthly jobs in that industry (this is the same definition used by the BLS and BEA). Thus, 1 job lasting 12 months = 2 jobs lasting 6 months each = 3 jobs lasting 4 months each. A job can be either full-time or part-time. Similarly, a job that lasts one quarter of the year would be 0.25 jobs. Note that a person can hold more than one job, so the job count is not necessarily the same as the count of employed persons.
Information on converting between IMPLAN jobs and Full-Time Equivalents can be found in the 536 FTE & Employee Compensation Conversion Tables found in our downloads section. Download 2017 Version
Find other conversion tables here: https://implanhelp.zendesk.com/hc/en-us/articles/115002997573-536-Sectoring-Scheme
Please note also that Full-Time Equivalent by BLS definitions is 35+ hours.
http://www.bls.gov/opub/ils/pdf/opbils05.pdf
BLS also has this definition in their Glossary, but definitions depend on the survey (notice the two definitions of Full-time)
Labor Income is the sum of Employee Compensation (wages and benefits) and Proprietor Income.
The difference between the cost of inventory withdrawals as valued at acquisition cost and the cost of withdrawals as valued at replacement cost. The IVA adjusts inventories from the change in book value reported by most businesses to the definition of inventories used in the NIPAs and industry accounts—that is, the change in physical volume valued at the average prices for the time period. The IVA is subtracted from corporate profits and nonfarm proprietors’ income to remove inventory profits or losses from the income reported by businesses. (Up through the 1997 benchmark, the IVA in the I-O accounts has differed from the IVA in the NIPAs by the amount of the LIFO-reserve adjustment.) (BEA)
Stocks of goods held by the firm over a period of time. In the I-O accounts, inventory includes (1) products purchased for resale, generally held by wholesalers and retailers, (2) materials and supplies for use in the production of goods for sale or in the provision of a service, (3) products that are partly processed and that require further processing prior to sale (work in process), and (4) finished goods held for sale. (BEA)
Purchases of non-durable goods and services such as energy, materials, and purchased services that are used for the production of other goods and services rather than for final consumption. These inputs are sometimes referred to as current-account expenditures. They do not include any capital-account purchases nor do they include the inputs from the primary factors of production (capital and labor) that are components of value added. (BEA)
In general, institution demand is estimated nationally and then allocated to states and counties. Institution demand data is not available for some of the variables at the state or county level. This chapter will discuss the data sources and the distribution procedures. Institution demand, or final demand as it is sometimes called, is demand for goods and services for final use. Final use means that the good or service will be consumed and not incorporated into another product.
The dollar value of a commodity required directly by an industry to produce a dollar of output. It is also referred to as the direct requirement coefficient. (BEA)
National income and product accounts. A principal U.S. economic account prepared by BEA, the NIPAs display the value and composition of U.S. production and the distribution of incomes generated in producing it. (BEA)
Economic input output
modeling application, data,
and solutions.
