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Economic Indicators Ontology
This ontology provides the parameters which make up the various types of market economic indicators, along with basic facts about these such as the economies or countries they apply to.
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Copyright (c) 2014-2018 EDM Council, Inc.
Copyright (c) 2014-2018 Object Management Group, Inc.
https://www.omg.org/spec/EDMC-FIBO/BE/
https://www.omg.org/spec/EDMC-FIBO/FBC/
https://www.omg.org/spec/EDMC-FIBO/FND/
https://www.omg.org/spec/EDMC-FIBO/IND/Indicators/Indicators/
fibo-ind-ei-ei
EconomicIndicators.rdf
The https://www.omg.org/spec/EDMC-FIBO/IND/20140601/EconomicIndicators/EconomicIndicators.rdf version of this ontology was modified per the issue resolutions identified in the FIBO IND 1.0 FTF 1 report.
The https://www.omg.org/spec/EDMC-FIBO/IND/20150501/EconomicIndicators/EconomicIndicators.rdf version of this ontology was modified per the issue resolutions identified in the FIBO IND 1.0 FTF 3 report.
The https://www.omg.org/spec/EDMC-FIBO/IND/20160801/EconomicIndicators/EconomicIndicators.rdf version of this ontology was modified per the FIBO 2.0 RFC. Primary changes include the addition of a number of statistical measures (mean, total, etc.) and their use in existing and new indicators, and the addition of several more economic indicators.
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annualized standard deviation
the standard deviation for some measure over a specific reference period
Standard deviation applied to the annual rate of return of an investment provides insights on the historical volatility of that investment. The greater the standard deviation of the price of a security, the greater the volatility. Multiplying monthly standard deviation by the square root of twelve (12) is an industry standard method of approximating annualized standard deviations of monthly returns.
arithmetic mean
the sum of a collection of numbers divided by the number of numbers in the collection
https://en.wikipedia.org/wiki/Arithmetic_mean
While the arithmetic mean is often used to report central tendencies, it is not a robust statistic, meaning that it is greatly influenced by outliers (values that are very much larger or smaller than most of the values). Notably, for skewed distributions, such as the distribution of income for which a few people's incomes are substantially greater than most people's, the arithmetic mean may not accord with one's notion of 'middle', and robust statistics, such as the median, may be a better description of central tendency.
average absolute deviation
the average of the absolute deviations from a central point
The central point can be the mean, median, mode, or the result of another measure of central tendency.
mean absolute deviation
average daily earnings
a measure of the average daily wage an employee makes over the reporting period
http://stats.oecd.org/glossary/detail.asp?ID=4360
1
average earnings
a measure of the average wage an hourly or salaried worker makes in a given period of time
http://stats.oecd.org/glossary/detail.asp?ID=4360
Average earnings are typically calculated on an hourly, daily, weekly, or monthly basis. They may be expressed as an amount of money or in terms of a percent change with respect to a prior period, depending on the jurisdiction and report.
average hourly earnings
a measure of the average hourly wage an employee makes over the reporting period
http://stats.oecd.org/glossary/detail.asp?ID=4360
average monthly earnings
a measure of the average monthly wage an employee makes over the reporting period
http://stats.oecd.org/glossary/detail.asp?ID=4360
average weekly earnings
a measure of the average weekly wage an employee makes over the reporting period
http://stats.oecd.org/glossary/detail.asp?ID=4360
capital-labor-energy-materials multifactor productivity
a ratio of a quantity index of gross output to a quantity index of combined inputs
KLEMS-MFP
http://www.oecd.org/std/productivity-stats/2352458.pdf
Shows the time profile of how productively combined inputs are used to generate gross output. Conceptually, the KLEMS productivity measure captures disembodied technical change. In practice, it reflects also efficiency change, economies of scale, variations in capacity utilisation and measurement errors.
KLEMS multifactor productivity
capital-labor multifactor productivity (MFP), based on value added
a ratio of a quantity index of value added to a quantity index of combined labor and capital input
http://www.oecd.org/std/productivity-stats/2352458.pdf
Capital-labour MFP indices show the time profile of how productively combined labour and capital inputs are used to generate value added. Conceptually, capital-labour productivity is not, in general, an accurate measure of technical change. It is, however, an indicator of an industry's capacity to contribute to economy-wide growth of income per unit of primary input. In practice, the measure reflects the combined effects of disembodied technical change, economies of scale, efficiency change, variations in capacity utilisation and measurement errors.
capital productivity, based on value added
a ratio of a quantity index of value added to a quantity index of capital input
http://www.oecd.org/std/productivity-stats/2352458.pdf
Changes in capital productivity indicate the extent to which output growth can be achieved with lower welfare costs in the form of foregone consumption.
The capital productivity index shows the time profile of how productively capital is used to generate value added. Capital productivity reflects the joint influence of labour, intermediate inputs, technical change, efficiency change, economies of scale, capacity utilisation and measurement errors.
civilian
a person that is not a member of the military (i.e., that is not on active duty)
U.S. Bureau of Labor Statistics and Statistics Canada reference definitions - https://wiki.edmcouncil.org/pages/viewpage.action?pageId=6358041
civilian labor force
a subset of the civilian, non-institutional population considered to be part of the labor force during a given reporting period
U.S. Bureau of Labor Statistics and Statistics Canada reference definitions - https://wiki.edmcouncil.org/pages/viewpage.action?pageId=6358041
civilian labor force ÷ civilian non-institutional population
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1
civilian labor force participation rate
an economic indicator representing the rate of participation the labor force of a given economy for some specified period
http://www.bls.gov/bls/cps_fact_sheets/lfp_mock.htm
The labor force participation rate is the percentage of the population that is either employed or unemployed (that is, either working or actively seeking work).
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civilian non-institutional population
a statistical universe consisting of people of a certain age who reside in a given region, do not live in institutions (for example, correctional facilities, long-term care hospitals, and nursing homes), and are not on active military duty
The civilian non-institutional population is typically reported in thousands.
U.S. Bureau of Labor Statistics and Statistics Canada reference definitions - https://wiki.edmcouncil.org/pages/viewpage.action?pageId=6358041
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combined statistical area
a combination of adjacent metropolitan and micropolitan areas with economic ties measured by commuting patterns
CSA
These areas that combine retain their own designations as metropolitan or micropolitan statistical areas within the larger combined statistical area.
consumer
true
a person that is the ultimate user of a product or service
Barron's Dictionary of Business and Economics Terms, Fifth Edition, 2012
For the purposes of the CPI, the definition of consumer is limited to humans. In general, a consumer could include a pet, as the consumer of pet food, for example, although the pet owner would likely be the purchaser and target of advertising.
The consumer is not always the purchaser of the product. Consumers are considered to be the users of the final product. For example, purchasers of building products are interim users of these products while constructing the finished product, which then may be purchased by the consumer.
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1
consumer price index
an economic indicator representing a measure of the change over time in the prices of consumer goods and services that households consume
CPI
http://unstats.un.org/unsd/nationalaccount/docs/SNA2008.pdf
http://www.ilo.org/public/english/bureau/stat/guides/cpi/
daily
an explicit recurrence interval of one day, or 24 hours
P1D
2
difference
a quantity by which amounts differ; the remainder left after subtraction of one value from another
https://en.oxforddictionaries.com/definition/difference
1
dispersion
a measure of difference between the observed value of a variable and some other value
The sign of the deviation (positive or negative), indicates the direction of that difference (the deviation is positive when the observed value exceeds the reference value). The magnitude of the value indicates the size of the difference.
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1
economic indicator
a statistical measure of economic activity that is regular and comparable in the context of a statistical area (region), used for analysis of economic performance and predictions of future performance
Example indicators include the average work week, weekly claims for unemployment insurance, new orders, vendor performance, stock prices, and changes in the money supply.
Barron's Dictionary of Business and Economic Terms, Fifth Edition, 2012
The two main features of any indicator are the regularity with which they are measured and published, and the fact that they are comparable from one release to the next.
employed population
a subset of the civilian labor force considered to be employed during the reporting period
U.S. Bureau of Labor Statistics and Statistics Canada reference definitions - https://wiki.edmcouncil.org/pages/viewpage.action?pageId=6358041
There are a number of distinctions with respect to how individuals are counted from country to country, including whether or not they are considered employed if they are on unpaid leave for some reason, and whether or not they are counted multiple times if they have more than one paying job.
employed population ÷ civilian non-institutional population
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1
employment-population ratio
an economic indicator representing the ratio of the employed population with respect to the overall civilian non-institutional population of a given economy for some specified period
enterprise
a functional business entity that produces and/or sells goods or services
http://www.bls.gov/opub/hom/glossary.htm#E
http://www.businessdictionary.com/definition/establishment.html
An enterprise (a private firm, government, or nonprofit organization) can consist of a single establishment or multiple establishments. All establishments in an enterprise may be classified in one industry (e.g., a chain), or they may be classified in different industries (e.g., a conglomerate).
enterprise population
a statistical universe consisting of enterprises designed for the purposes of supporting surveys such as those used as the basis for employment and producer price indices
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1
establishment
an enterprise (or part of an enterprise) that operates from a single physical location
http://stats.oecd.org/glossary/detail.asp?ID=857
http://www.bls.gov/opub/hom/glossary.htm#E
http://www.businessdictionary.com/definition/establishment.html
http://www.statcan.gc.ca/eng/concepts/units
The physical location of a certain economic activity - for example, a factory, mine, store, or office. An individual establishment is generally classified by having one NAICS code associated with it for statistical purposes, whereas an enterprise may be classified by multiple NAICS codes. The statistical structure is defined based on the operating structure and the accounting data produced by that entity. A given location may only need to publish revenues, whereas an operating unit (establishment) has employment statistics, etc. An establishment is defined as a producing unit at a single geographical location at which or from which economic activity is conducted and for which, at a minimum, employment data are available. In the case of a home-based business, the actual physical location would be specified as two distinct institutional units - as a household from a personal living and consumer perspective and as an establishment / operating unit due to the statistics required of the business.
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establishment employment
the total number of persons who work in or for the establishment including working proprietors, active business partners and unpaid family workers, as well as persons working outside the establishment when paid by and under the control of the establishment, for example, sales representatives, outside service engineers and repair and maintenance personnel
http://stats.oecd.org/glossary/detail.asp?ID=780
Also included are salaried managers and salaried directors of incorporated enterprises. The total should include part-time workers and seasonal workers on the payroll, persons on short-term leave (sick leave, maternity leave, annual leave or vacation) and on strike, but not persons on indefinite leave, military leave or pension.
Excluded are directors of incorporated enterprises and members of shareholders committees who are paid solely for their attendance at meetings, labour made available to the establishment by other units and charged for, such as contract workers paid through contractors, persons carrying out repair and maintenance work in the establishment on behalf of other units and all homeworkers.
payroll employment
establishment population
a subset of the enterprise population focused on establishments
finite population
a population for which it is possible to count its units
A population is the complete group of units to which survey results are to apply. (These units may be persons, animals, objects, businesses, trips, etc.). See http://www.statcan.gc.ca/edu/power-pouvoir/glossary-glossaire/5214842-eng.htm#p.
fixed basket
a basket of goods and services whose quantity and quality are held fixed for some period of time
https://www.imf.org/external/pubs/ft/ppi/2010/manual/ppi.pdf
fixed basket constituent
a component of a fixed basket
geometric mean
a mean that indicates the central tendency or typical value of a set of numbers by using the product of their values (as opposed to the arithmetic mean which uses their sum)
https://en.wikipedia.org/wiki/Geometric_mean
The geometric mean is defined as the nth root of the product of n numbers. A geometric mean is often used when comparing different items - finding a single 'figure of merit' for these items - when each item has multiple properties that have different numeric ranges. For example, the geometric mean can give a meaningful 'average' to compare two companies which are each rated at 0 to 5 for their environmental sustainability, and are rated at 0 to 100 for their financial viability. If an arithmetic mean were used instead of a geometric mean, the financial viability is given more weight because its numeric range is larger - so a small percentage change in the financial rating (e.g. going from 80 to 90) makes a much larger difference in the arithmetic mean than a large percentage change in environmental sustainability (e.g. going from 2 to 5).
goods or services population
a statistical universe consisting of specific goods and/or services designed for the purposes of supporting surveys such as those used as the basis for price indices
https://www.imf.org/external/pubs/ft/ppi/2010/manual/ppi.pdf
gross domestic product
an economic indicator representing the broadest measure of aggregate economic activity, measuring the total unduplicated market value of all final goods and services produced within a statistical area in a period
GDP
BEA's Handbook of Methods for GDP and related national accounts, available at https://www.bea.gov/methodologies/index.htm#national_meth
http://www.treasury.gov/initiatives/ofr/about/Documents/AR2013_Back_Matter_Glossary+Bib_Refs+Endnotes.pdf
https://en.wikipedia.org/wiki/Gross_domestic_product
GDP represents a valuation expressed in terms of the prices actually paid by the purchaser after all applicable taxes and subsidies.
Gross domestic product (GDP) is the value of the goods and services produced by the nation’s economy less the value of the goods and services used up in production. GDP is also equal to the sum of personal consumption expenditures, gross private domestic investment, net exports of goods and services, and government consumption expenditures and gross investment. Conceptually, this measure can be arrived at by three separate means: as the sum of goods and services sold to final users, as the sum of income payments and other costs incurred in the production of goods and services, and as the sum of the value added at each stage of production. Although these three ways of measuring GDP are conceptually the same, their calculation may not result in identical estimates of GDP because of differences in data sources, timing, and estimation techniques.
hourly
an explicit recurrence interval of one hour, or 60 minutes
P1H
1
household
an individual or small group of persons who occupy a housing unit (such as a house or apartment) as their usual place of residence, who pool some, or all, of their income and wealth and who consume certain types of goods and services collectively, mainly housing and food
A household may be either (a) a one-person household, that is to say, a person who makes provision for his or her own food or other essentials for living without combining with any other person to form part of a multi-person household or (b) a multi-person household, that is to say, a group of two or more persons living together who make common provision for food or other essentials for living. The persons in the group may pool their incomes and may, to a greater or lesser extent, have a common budget; they may be related or unrelated persons or constitute a combination of persons both related and unrelated.
A household may be located in a housing unit or in a set of collective living quarters such as a boarding house, a hotel or a camp, or may comprise the administrative personnel in an institution. The household may also be homeless.
From the perspective of the U.S Census Bureau, a household includes the related family members and all the unrelated people, if any, such as lodgers, foster children, wards, or employees who share the housing unit. A person living alone in a housing unit, or a group of unrelated people sharing a housing unit such as partners or roomers, is also counted as a household. The count of households excludes group quarters [such as institutional facilities]. There are two major categories of households, 'family' and 'nonfamily'.
housing unit
a house, an apartment, a mobile home or trailer, a group of rooms, or a single room occupied as separate living quarters, or if vacant, intended for occupancy as separate living quarters
Separate living quarters are those in which the occupants live separately from any other individuals in the building and which have direct access from outside the building or through a common hall. For vacant units, the criteria of separateness and direct access are applied to the intended occupants whenever possible.
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inflation rate
an economic indicator representing a change in prices of goods and services for a specified period, for a given statistical area
Always either includes or excludes: Energy prices; Food prices. ALL inflation rates cite whether or not they exclude energy and food prices. If nothing stated it is assumed they include them.
Inflation rate can be used to define changes, from period-to-period, in wage (wage inflation), house prices or producer inputs/outputs. It can be calculated month-over-month and quarter-over-quarter, as well as year-over-year, or on any periodic basis required by the publisher and its community of interest.
input producer price index
an economic indicator representing a measure of the rate of change over time in the prices of inputs of goods and services purchased by the producer
input PPI
https://www.imf.org/external/pubs/ft/ppi/2010/manual/ppi.pdf
institutional person
a person that resides in an institution for some reason, due, for example, to hospitalization, rehabilitation, or incarceration
U.S. Bureau of Labor Statistics and Statistics Canada reference definitions - https://wiki.edmcouncil.org/pages/viewpage.action?pageId=6358041
institutional unit
a party that is capable, in its own right, of owning assets, incurring liabilities, and engaging in economic activities and in transactions with other parties
http://stats.oecd.org/glossary/detail.asp?ID=1415
http://www.statcan.gc.ca/eng/concepts/units
http://www.statcan.gc.ca/eng/nea/gloss/gloss_i#Institutionalunit
There is a hierarchical relationship between institutional units and establishments. An institutional unit contains one or more entire establishment(s); an establishment belongs to one and only one institutional unit. There are two main types of units in the real world that may qualify as institutional units, namely persons or groups of persons in the form of households, and legal or social entities.
labor productivity, based on gross output
a ratio of a quantity index of gross output to a quantity index of labor input
http://www.oecd.org/std/productivity-stats/2352458.pdf
Gross-output based labour productivity traces the labour requirements per unit of (physical) output. It reflects the change in the input coefficient of labour by industry and can help in the analysis of labour requirements by industry.
Shows the time profile of how productively labour is used to generate gross output. Labour productivity changes reflect the joint influence of changes in capital, intermediate inputs, as well as technical, organisational and efficiency change within and between firms, the influence of economies of scale, varying degrees of capacity utilisation and measurement errors.
labor productivity, based on value added
a ratio of a quantity index of value added to a quantity index of labor input
http://www.oecd.org/std/productivity-stats/2352458.pdf
At the aggregate level, value-added based labour productivity forms a direct link to a widely used measure of living standards, income per capita. Productivity translates directly into living standards, by adjusting for changing working hours, unemployment, labour force participation rates and demographic changes.
Shows the time profile of how productively labour is used to generate value added. Labour productivity changes reflect the joint influence of changes in capital, as well as technical, organisational and efficiency change within and between firms, the influence of economies of scale, varying degrees of capacity utilisation and measurement errors.
mean
the most common measure of central tendency, the average of a set of numbers
μ
http://www.statcan.gc.ca/edu/power-pouvoir/glossary-glossaire/5214842-eng.htm#m
A moment is a specific quantitative measure, used in both mechanics and statistics, of the shape of a set of points. Given that the points represent probability density from a statistical viewpoint, the zeroth moment is the total probability (i.e. one), the first moment is the mean, the second central moment is the variance, the third central moment is the skewness, and the fourth central moment (with normalization and shift) is the kurtosis.
expected value
first (raw) moment
median
the value separating the higher half of a data sample, a population, or a probability distribution, from the lower half
The basic advantage of the median in describing data compared to the mean is that it is not skewed by extremely large or small values, and may provide a better idea of a 'typical' value.
median absolute deviation
the median of the absolute deviations from the data's median
median absolute deviation
metropolitan statistical area
one or more adjacent counties or county equivalents that have at least one urban core area of at least 50,000 population, plus adjacent territory that has a high degree of social and economic integration with the core as measured by commuting ties
MSA
micropolitan statistical area
one or more adjacent counties or county equivalents that have at least one urban core area of at least 10,000 population but less than 50,000, plus adjacent territory that has a high degree of social and economic integration with the core as measured by commuting ties
μSA
military person
a person that is a member of the active duty military
U.S. Bureau of Labor Statistics and Statistics Canada reference definitions - https://wiki.edmcouncil.org/pages/viewpage.action?pageId=6358041
monthly
an explicit recurrence interval of exactly one (1) month, regardless of the length in days of a given calendar month, but typically 30 days
P1M
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1
numeric index
the change in some aggregate relative to the value of the aggregate at a reference period
http://www.statcan.gc.ca/edu/power-pouvoir/glossary-glossaire/5214842-eng.htm#i
https://wiki.edmcouncil.org/display/IND/Specifying+Statistical+Quantities
a mathematical device or number which is used to express the observation (e.g., price level, volume of trade, relative amount etc.) of a given period, in comparison with that of a base period
output producer price index
an economic indicator representing a measure of the rate of change over time in the prices of products sold as they leave the producer
output PPI
https://www.imf.org/external/pubs/ft/ppi/2010/manual/ppi.pdf
personal consumption expenditures
an economic indicator representing a measure of the value of the goods and services purchased by, or on the behalf of, 'persons'
PCE
https://www.bea.gov/national/pdf/chapter5.pdf
Personal consumption expenditures consist of purchases of goods and services by households and by nonprofit institutions serving households (NPISHs). These goods and services include imputed expenditures on items such as the services of housing by a homeowner (the equivalent of rent), financial and insurance services for which there is no explicit charge, and medical care provided to individuals and financed by government or by private insurance.
population not in the labor force
a subset of the civilian, noninstitutional population, that is considered neither employed nor unemployed by the reporting agency during the reporting period
U.S. Bureau of Labor Statistics and Statistics Canada reference definitions - https://wiki.edmcouncil.org/pages/viewpage.action?pageId=6358041
There are a number of distinctions with respect to how individuals are counted from country to country, including whether or not they are considered employed if they are on unpaid leave for some reason, and whether or not they are counted multiple times if they have more than one paying job.
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producer price index
an economic indicator representing a measure of the rate of change over time in the prices of goods and services bought and sold by producers
PPI
https://www.imf.org/external/pubs/ft/ppi/2010/manual/ppi.pdf
Statistical agencies implement the Laspeyres index by putting it into price-relative (price change from the base period) and revenue-share (from the base period) format. In this form, the Laspeyres index can be written as the sum of base-period revenue shares of the items in the index times their corresponding price relatives. Statistical agency practice has introduced some approximations to the theoretical Laspeyres target due to a number of practical problems with producing the Laspeyres index exactly. For these and other pragmatic reasons, some agencies use alternatives depending on circumstances. See the IMF publication cited for a full explanation of the most commonly used approaches and trade-offs made for determining PPI.
The standard methodology for a typical PPI is based on a Laspeyres price index with fixed quantities from an earlier base period. The construction of this index can be thought of in terms of selecting a basket of goods and services representative of base-period revenues, valuing this at base-period prices, and then repricing the same basket at current-period prices. The target PPI in this case is defined to be the ratio of these two revenues. Practicing statisticians use this methodology because it has at least three practical advantages. It is easily explained to the public, it can use often expensive and untimely weighting information from the date of the last (or an even earlier) survey or administrative source (rather than requiring sources of data for the current month), and it need not be revised if users accept the Laspeyres premise.
1
productivity
an economic indicator representing a ratio of a volume measure of output to a volume measure of input use
http://stats.oecd.org/glossary/detail.asp?ID=2167
http://www.oecd.org/std/productivity-stats/2352458.pdf
The primary objectives of productivity measurement include: (a) tracing technology change, i.e., the currently known ways of converting resources into outputs desired by the economy, (b) identifying changes in efficiency, (c) understanding real cost savings, (d) benchmarking production processes, and (e) assessing standards of living. Productivity measures may also be single factor or multifactor.
ratio
a proportional relationship between two different numbers or quantities, or in mathematics a quotient of two numbers or expressions, arrived at by dividing one by the other
http://www.statcan.gc.ca/edu/power-pouvoir/glossary-glossaire/5214842-eng.htm#p.
2
ratio expression
a proportional relationship specifically between two different quantities or expressions, arrived at by dividing one by the other
2
ratio value
a proportional relationship specifically between two different quantity values that gives rise to a datum of a specific quantity type
sampling variance
a measure of the extent to which the estimate of a characteristic from different possible samples of the same size and the same design differ from one another
http://www.statcan.gc.ca/pub/12-587-x/12-587-x2003001-eng.pdf
standard deviation
the square root of variance, standard deviation, measures the spread or dispersion around the mean of a data set
SD
σ
http://www.statcan.gc.ca/edu/power-pouvoir/glossary-glossaire/5214842-eng.htm#s
Standard deviation is the most widely-used measure of spread, using squared deviations, but may not be robust.
statistical area
a physical location that is defined per a nationally consistent program for designating geographic regions for the purposes of tabulating and presenting statistical data
U.S. Bureau of Labor Statistics and Statistics Canada reference definitions - https://wiki.edmcouncil.org/display/IND/Statistics+Canada+Census+Information
U.S. Bureau of Labor Statistics and Statistics Canada reference definitions - https://wiki.edmcouncil.org/pages/viewpage.action?pageId=6358041
1
statistical area identifier
an identifier for a physical location that is defined per a nationally consistent program for designating geographic regions for the purposes of tabulating and presenting statistical data
U.S. Bureau of Labor Statistics and Statistics Canada reference definitions - https://wiki.edmcouncil.org/display/IND/Statistics+Canada+Census+Information
U.S. Bureau of Labor Statistics and Statistics Canada reference definitions - https://wiki.edmcouncil.org/pages/viewpage.action?pageId=6358041
statistical population
a statistical universe filtered by time and region
A common aim of statistical analysis is to produce information about some chosen population. In statistical inference, a subset of the population (a statistical sample) is chosen to represent the population in a statistical analysis. If a sample is chosen properly, characteristics of the entire population that the sample is drawn from can be estimated from corresponding characteristics of the sample.
0
statistical program
a publication program that presents a detailed investigation and analysis of a subject or situation involving one or more studies or surveys
statistical universe
a collection representing the total membership, or 'universe', of people, resources, products, services, events, or entities of interest for some question, experiment, survey or statistical program
A statistical universe can be a group of actually existing objects (e.g. the set of all stars within the Milky Way galaxy) or a hypothetical and potentially infinite group of objects conceived as a generalization from experience (e.g. the set of all possible hands in a game of poker).
total
a sum of the values for some characteristic of all units
https://wiki.edmcouncil.org/display/IND/Specifying+Statistical+Quantities
ultimate consumer
a person that is the ultimate user of a good, product or service
For the purposes of the CPI and related statistics, the definition of consumer is limited to humans. In general, a consumer could include a pet, as the consumer of pet food, for example, although the pet owner would likely be the purchaser and target of advertising.
The consumer is not always the purchaser of the product. Consumers are considered to be the users of the final product. For example, purchasers of building products are interim users of these products while constructing the finished product, which then may be purchased by the consumer.
consumer as defined by the Consumer Price Index (CPI)
unemployed population
a subset of the civilian labor force that is considered to have had no employment but was available for work, except for temporary illness, and had made specific efforts to find employment sometime during a specified period, during the reporting period
U.S. Bureau of Labor Statistics and Statistics Canada reference definitions - https://wiki.edmcouncil.org/pages/viewpage.action?pageId=6358041
Persons who were waiting to be recalled to a job from which they had been laid off need not have been looking for work to be classified as unemployed.
unemployed population ÷ civilian labor force
1
1
1
unemployment rate
an economic indicator representing the ratio of the unemployed population with respect to the civilian labor force of a given economy for some specified period
http://www.bls.gov/cps/faq.htm#Ques3
Persons are classified as unemployed if they do not have a job, have actively looked for work in the prior 4 weeks, and are currently available for work. Workers expecting to be recalled from layoff are counted as unemployed, whether or not they have engaged in a specific jobseeking activity. In all other cases, the individual must have been engaged in at least one active job search activity in the 4 weeks preceding the interview and be available for work (except for temporary illness).
value-added producer price index
an economic indicator representing a weighted average of the input and output producer price indices
value-added PPI
https://www.imf.org/external/pubs/ft/ppi/2010/manual/ppi.pdf
variance
a measure of spread, calculated as the average squared deviation of each number from the mean of a data set
μ2
σ2
http://www.statcan.gc.ca/edu/power-pouvoir/glossary-glossaire/5214842-eng.htm#v
second moment
weekly
an explicit recurrence interval of one week, or 7 days
P7D
actual expression
the calculation or expression used to determine the value of something
In cases where some expression can only be calculated in SPARQL or via rules, this property is useful for stating what that calculation should be using the input arguments to the expression.
evaluates
calculates a quantity value based on some mathematical formula
excludes energy and food
a predicate indicating whether the index excludes energy and food prices
has base period
specifies the base period (typically a prior period) against which a numberic index for a more recent reporting period is compared
has indicator value
specifies quantity value for a given indicator
has minimum legal working age
a predicate indicating the legal working age (minimum), in years, of people that are counted as members of the working population
The working-age population is the total population in a region, within a set range of ages, that is considered to be able and likely to work. The working-age population measure is used to give an estimate of the total number of potential workers within an economy. For example, in the U.S., it is 16, whereas in Canada it is 15.
has observed value
specifies a collection of values over which some analysis is performed
For certain calculations, such as certain measures of dispersion, date value pairs are expected as input, in other words, a dated structured collection.
has periodicity
specifies a recurrence interval (monthly, quarterly, annual) that an indicator reflects
has population size
a predicate indicating the number of elements in a given population
has reference period
specifies a reference (baseline) recurrence interval for which a given economic indicator applies
has regional context
true
specifies the regional (geopolitical) context for a given measurement, population, or economic indicator
has release date
specifies the release date for a given economic indicator
Note that this property requires a reified date value, if used.
has release date and time
indicates a release date and possibly a time for a given indicator or report
has reporting period
true
specifies the reporting period for which a given economic indicator applies
has series origin
specifies the original starting date for the time series for a given economic indicator
has time context
true
specifies the time context for a given measurement, population, or economic indicator
has universe size
a predicate indicating the number of elements in a given universe
is calculated via methodology
a high-level description of the approach taken to obtain the result
is evaluated by
links a quantity value to the expression that generated it
is seasonally adjusted
a predicate indicating whether some published formal method is applied that compensates for seasonal variations in the population or index value
Example explanation from the US Bureau of Labor Statistics: Because price data are used for different purposes by different groups, the Bureau of Labor Statistics publishes seasonally adjusted as well as unadjusted changes each month. ... Seasonal factors used in computing the seasonally adjusted indexes are derived by the X-13ARIMA-SEATS Seasonal Adjustment Method. Seasonally adjusted indexes and seasonal factors are computed annually. Each year, the last five years of seasonally adjusted data are revised.