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Economic Briefing Blog

Growing a Data Driven Government - The Commerce Data Academy

Photo of training class.As "America's Data Agency", the U.S. Commerce Department has made open data a central part of its mission.  Over the last year, the department has taken a number of steps to move this mission forward, including the hiring of a Chief Data Officer, Deputy Chief Data Officer and Chief Data Scientist. Last fall, the department also formally launched the Commerce Data Service, an in-house data science and consulting service, to help maximize the value of the vast data resources across the department. 

Innovation @ BEA: Exploring New Data Projects

Man pressing airplane icon.BEA is working on a variety of projects this year to bring new economic statistics your way. The goal is to give business people, policymakers and households additional tools to make informed decisions and deepen their understanding of the U.S. economy. At this point, it's too early for us to say exactly when these new statistics will be introduced, but here's a look at what we're planning.

Upcoming Natural Capital Business Roundtable set for Stanford Woods Institute for the Environment with Focus on Tech and Tourism

Photo of Stanford Woods InstituteThe fourth natural capital business roundtable will be hosted by Stanford Woods Institute for the Environment on December 9, 2015. Natural capital includes the air, water, soil and living resources that provide a range of goods and services on which the global economy depends.  The December 9th meeting will focus on the technology sector and tourism. Representatives from the private sector, non-governmental organizations and academia will come together with Commerce Department and local governmental officials for a day of brainstorming to identify the opportunities and challenges associated with integrating natural capital into business models. Commerce Department Chief Data Officer Ian Kalin will be the keynote speaker for the Stanford roundtable.

Bureau of Economic Analysis Releases Two New Data Sets to Deepen Understanding of U.S. Economy

Bureau of Economic Analysis LogoIn the past two days, the Commerce Department's Bureau of Economic Analysis (BEA) has released two brand new sets of economic statistics that business people, entrepreneurs, policy makers, households and others can use to make more informed decisions in their professional and personal lives.

BEA's New and Existing Statistics Offer Economic Intel for Entrepreneurs and Business Community

Bureau of Economic Analysis LogoWhat are consumer spending patterns in California compared to New York? Which states are attracting new foreign investment? How are different industries in each state performing on a quarterly basis? Those are just a few examples of the kinds of new statistics that the Bureau of Economic Analysis is producing to give entrepreneurs even more economic intelligence as they chart strategies on marketing, investing and hiring.

Taking a Look at Veterans Across America

For more information on veterans, please visit http://www.census.gov/topics/population/veterans.html

Veterans as a Percentage of the Civilian Population 18 Years and OlderAs we celebrate those who have served in the U.S. Armed Forces this Veterans Day, many Americans may want to learn more about the veterans who live in and around their area. Last week the Census Bureau released a series of infographics detailing characteristics of veterans within each state, the District of Columbia and Puerto Rico.

Industry in Focus: Finance and Insurance and More

This quarter, Industry in Focus is actually Industries in Focus. Beginning with this quarterly GDP by Industry release, we're delighted to introduce a new set of products—the Quarterly Underlying Detail Tables.  Previously, quarterly GDP by industry statistics were only available for 22 industries.  The new underlying detail tables provide the same data for 71 industries, allowing for even more in-depth analysis of economic trends.

Drilling into 'Fab' Metals

Recently, the Office of the Chief Economist (OCE) reported on fabricated metal product manufacturing as part of our series of manufacturing profiles examining what is made in America. Utilizing various fabrication processes, metals are manipulated to create intermediate or end products (excluding machinery, computers and electronics and metal furniture). Examples of fabrication (or "fab") include forging, stamping and welding metal. Shipments of fabricated metals totaled $345.1 billion, or 5.9 percent of all manufacturing shipments in 2013. The fabricated metals industry is the third largest employer (following transportation and food manufacturing) of all the manufacturing industries in the United States.

Halloween Data Snapshot: How scary is this?

On October 31st, millions of children across America will don costumes and head excitedly into the twilight in search of sweets. (According to the U.S. Census Bureau, there were 41.2 million 5-14 year olds in 2013).

Manufacturing Pays

Historically, manufacturing jobs have offered relatively high pay, good benefits, and job security. However, as the economy has changed, the manufacturing sector's reputation for offering higher-paying jobs has been called into question – but our research rebuts this criticism.  In a new short report  available on the Department of Commerce's Office of the Chief Economist's website, we use ten federal datasets to compare the average pay of manufacturing employees to the average pay of private sector employees and find that a pay premium still exists.

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