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COMPENSATION OF EMPLOYEES: The official item in the National Income and Product Accounts maintained by the Bureau of Economic Analysis measuring wages earned by the household sector for supplying labor services. This is one of five official factor payments making up national income. The other four are net interest, rental income of persons, corporate profits, and proprietors' income. Compensation of employees is far and away the largest of the five factor payments, typically running about 70% of national income.
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                           CONSUMER PRICE INDEX FOR ALL URBAN CONSUMERS: An index of prices of goods and services typically purchased by urban consumers. The Consumer Price Index for All Urban Consumers (CPI-U) is the official name for the Consumer Price Index (CPI) commonly reported in the media. It is compiled and published monthly by the Bureau of Labor Statistics (BLS), using price data obtained from an elaborate survey of 25,000 retail outlets and quantity data generated by the Consumer Expenditures Survey. The CPI-U is so designated to differentiate it from the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). The Consumer Price Index for All Urban Consumers (CPI-U) measures the prices of goods and services typically purchased by all urban consumers. The less common Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) tracks the prices of goods typically purchased by urban wage earners and clerical workers. The CPI-W is an extension of the original CPI developed early in the 1900s that provided cost-of-living adjustment information to wage-earning workers (which is why the Bureau of LABOR Statistics oversees the CPI).For formula for calculating the CPI-U is given as: | CPI-U | = | total expenditures on
market basket in current period
total expenditures on
market basket in base period | x 100 |
The CPI-U was introduced in 1978 by the Bureau of Labor Statistics to address some of the deficiencies in the existing consumer price index, which was subsequently designated as CPI-W. The CPI-U provides a broader, more comprehensive measure of the economy's price level. In particular, the newer CPI-U includes the prices of goods and services purchased by about 80 percent of the non-institutionalized population while the older CPI-W includes about only 32 percent. Unless otherwise noted, the CPI reported by the popular press and used for economic analysis is invariably the broader CPI-U.
Recommended Citation:CONSUMER PRICE INDEX FOR ALL URBAN CONSUMERS, AmosWEB Encyclonomic WEB*pedia, http://www.AmosWEB.com, AmosWEB LLC, 2000-2023. [Accessed: June 4, 2023].
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Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors trying to buy either handcrafted decorations to hang on your walls or throw pillows for your bed. Be on the lookout for telephone calls from former employers.
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A U.S. dime has 118 groves around its edge, one fewer than a U.S. quarter.
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"Whenever you see a successful business, someone once made a courageous decision." -- Peter F. Drucker, business strategist
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MGF
Moment Generating Function
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