Economy

Economic Indicators

Consumer Price Index

The Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. The CPI is the most widely used measure of inflation. The data is seasonally adjusted and uses a base period of 1982-1984.

Consumer Sentiment

A survey of consumer attitudes concerning both the present situation as well as expectations regarding economic conditions conducted by the University of Michigan. For the preliminary release, approximately 300 consumers are surveyed while 500 are interviewed for the final figure. The level of consumer sentiment is related to the strength of consumer spending. This report is released twice per month. The first is a preliminary figure while the second is the final (revised) figure. Preliminary values will be replaced by final figures at the end of each month. Base year 1966=100.

Cost of Funds Index - 11th District

The Cost of Funds Index (COFI) for the 11th District reflects the interest expenses reported for a given month by the COFI Reporting Members’ various sources of funds. Only Arizona, California, and Nevada savings institutions that are members of the Federal Home Loan Bank of San Francisco are eligible to be considered for inclusion in the COFI. The Bank reserves the right to determine what type of institution satisfies its criteria for inclusion in the COFI and its criteria may change in the future to reflect changes in relevant law. The COFI is a ratio of monthly interest expenses to total funds, adjusted for variation in the number of days in that month, annualized and expressed as a percentage. The movement of COFI is affected by a number of factors, such as changes in market interest rates, the sources of funds used by the COFI Reporting Members, merger and acquisition activities, and changes in accounting rules or regulatory reporting instructions.

Employment Index - Nation

A monthly analysis from Monster.com of online job demand nationwide based on a review of opportunities culled from a selection of corporate career sites and job boards, including Monster. The Monster Employment Index launched in 2004. The baseline value of 100 represents the average monthly job counts during the first 12 months of the Index. In this manner, the Index measures changes in online job availability over time. Monster announced it will no longer release the Monster Employment Index as it feels an index that measures only online job posting activity is no longer an accurate measure of its business, nor the market at large. The Daily Transcript is researching a possible replacement to this index.

Employment Index - San Diego

A monthly analysis from Monster.com of online job demand in San Diego County based on a review of opportunities culled from a selection of corporate career sites and job boards, including Monster. The San Diego Index launched in 2007. The baseline value of 100 represents the average monthly job counts during the first 12 months of the Index. In this manner, the Index measures changes in online job availability over time. Monster announced it will no longer release the Monster Employment Index as it feels an index that measures only online job posting activity is no longer an accurate measure of its business, nor the market at large. The Daily Transcript is researching a possible replacement to this index.

Employment Level

The number of employed individuals in the labor force in San Diego County.

Index of Economic Indicators

A measure of six economic indicators for San Diego County, tracking month-over- month changes in new building permits, unemployment insurance, stock prices of local companies, local consumer confidence, help wanted advertising, and economic indicators from the national economy. It was created in 1977 with a base value of 100.

Jobless Claims - Continued

Continued unemployment claims are compiled weekly to show the number of individuals who continue filing for unemployment insurance. Individuals must respond to questions concerning their continued eligibility, report any earnings from work during the week(s), and report any job offers or refusal of work during the week.

Jobless Claims - Initial

New unemployment claims are compiled weekly to show the number of individuals who filed for unemployment insurance for the first time. An increasing (decreasing) trend suggests a deteriorating (improving) labor market. The four-week moving average of new claims smoothes out weekly volatility. The Unemployment Insurance Program provides unemployment benefits to eligible workers who are unemployed through no fault of their own, and meet other eligibility requirements of state law.

Local Gas Prices

The average retail price of a gallon of unleaded gasoline from gas stations throughout San Diego County.

Mechanics Liens

A lien to secure payment of work performed or materials furnished in construction of property. Often indicates the relative strength or weakness of the San Diego County construction industry because it details the number of jobs interrupted by financial issues.

Notices of Completion

A notice recorded to show that a construction job is finished. Often indicates the relative strength or weakness of the construction industry in San Diego County.

Notices of Default

A notice recorded to show that the borrower has not made timely payments of interest and principal as required or met other provisions of a bond, mortgage, lease or other contract. Trails the performance of the San Diego County economy because it indicates borrowers cannot pay bills in a timely manner.

Producer Price Index - Material & Supply Inputs

The Producer Price Index (PPI) for Material & Supply Inputs to Construction Industries is specific to construction industry supply materials and measures the average change over 12 months in the selling prices received by domestic producers for their output. The PPI captures price movements prior to the retail level. Therefore, they may foreshadow subsequent price changes for businesses and consumers. The base date is June 1986.

Productivity - Annual

Annual nonfarm business sector labor productivity measures the growth of labor efficiency in producing the economy's goods and services from the previous year. Unit labor costs reflect the labor costs of producing each unit of output. Both are followed as indicators of future inflationary trends because they indicate pressure for higher wages and faster economic growth. Labor productivity is measured by calculating the ratio of the output of goods and services to the labor hours devoted to the production of that output.

Productivity - Quarterly

Quarterly nonfarm business sector labor productivity measures the growth of labor efficiency in producing the economy's goods and services from the previous quarter at an annualized rate. Unit labor costs reflect the labor costs of producing each unit of output. Both are followed as indicators of future inflationary trends because they indicate pressure for higher wages and faster economic growth. Labor productivity is measured by calculating the ratio of the output of goods and services to the labor hours devoted to the production of that output.

Reconveyances

A document commonly used to signify payment in full of a trust deed. Shows an increase or decrease in the number of mortgages paid in full in San Diego County. Often used to track the level of refinancing activity in San Diego County.

Retail Sales

The Advance Monthly Sales for Retail and Food Services provides early estimates of monthly sales for companies in the retail trade and food services sectors. This voluntary survey covers retail companies with one or more establishments that sell merchandise and related services to final consumers. These firms provide data on dollar value of retail sales for selected establishments. Retail sales measure the total receipts at stores that sell durable and nondurable goods. Consumer spending accounts for approximately two-thirds of GDP and is therefore a key element in economic growth and a key influence on stock and bond markets. Data is seasonally adjusted. Dollar figures in millions.

San Diego Stock Exchange Index

A price-weighted index designed to measure the performance of San Diego's publicly traded companies. The index was developed with a base value of 100 as of Dec. 31, 2002.

Total Business Inventories

The value of the end-of-month stocks held by manufacturers, wholesalers and retailers. These inventories are valued at cost using non-LIFO (last in, first out) methods of valuation. Data is seasonally adjusted.

Trust Deeds

A transfer of title to real estate or granting of a lien upon real estate of a debtor to his creditor. It is intended as security for the repayment of a loan. Indicates the movement of the number of issued mortgages in San Diego County.

Trustee Deeds

A deed, or document that transfers the title of real estate, passes ownership of real estate in default to the buyer from the guardian of the trust deed. Tracks the movement of foreclosures in San Diego County.

Unemployment Level

The number of unemployed people in the labor force in San Diego County. Individuals are classified as unemployed if they are jobless, actively looking for work in the last four weeks, and available for work.

Unemployment Rate

The number of unemployed people in San Diego County over the age of 16 and available for work. The unemployment rate represents the number of unemployed as a percentage of the total population. Indicates the strength of the San Diego County economy.
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