Acceleration Update: BEA’s New Release Schedule for Local Area Personal Income and Product Statistics Jim Zavrel Association for University Business and.

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Presentation transcript:

Acceleration Update: BEA’s New Release Schedule for Local Area Personal Income and Product Statistics Jim Zavrel Association for University Business and Economic Research Indianapolis, IN October 9, 2011

bea.gov Local Area Personal Income Releases  Advance metro area release  August 9, 2011 (2010)  County compensation release  December 14, 2011 ( )  Local area personal income  April 24, 2012 ( )

bea.gov Challenges to Acceleration Initiative  Source data  Accelerated Receipt of QCEW from BLS for Wages & Salaries  Transfer receipts, property income, and proprietors’ income - work in progress  IT Challenges  Database modernization  Trial run of accelerated processing systems currently underway

bea.gov Acceleration Initiatives  Local area personal income  Fully funded initiative  6 month acceleration  No effect on State releases  Implementation: November, 2012

bea.gov Impact of Acceleration  Comprehensive release of all Local Area Personal Income  Metropolitan Statistical Areas, Micropolitan Statistical Areas, Combined Statistical Areas, Metropolitan Divisions, BEA Economic Areas, State Metropolitan/ Non-Metropolitan portions, Counties  Discontinues separate release of Advance Metropolitan Area Personal Income and County Compensation by Industry  Delays Gross Domestic Product by Metropolitan Area to January, 2013

bea.gov Proposed Regional Release Schedule 2012  State Quarterly Personal Income, 1st quarter th quarter 2011; State Annual Personal Income, 2011 (preliminary estimate) ……………………March 26  Local Area Personal Income, 2010……………………………………………………………….April 23  Gross Domestic Product by State, 2011 (advance estimate) and (revised estimate)………………………………………………………………………. June 5  State Quarterly Personal Income, 1st quarter st quarter 2012………….June 25  State Quarterly Personal Income, 1st quarter nd quarter 2012; State Annual Personal Income, (revised estimate)…………..September 25  Local Area Personal Income, 2011………** Newly Accelerated **………November 26  State Quarterly Personal Income, 1st quarter rd quarter 2012 December 19

bea.gov Questions  Contact Information: Jim Zavrel Assistant to Chief, Regional Income Division Bureau of Economic Analysis (202)