Economic Indicator News

Source: National Association of State Retirement Administrators, 2015

NASRA tracks economic data that helps inform various aspects of the public pension community. Among the information considered most relevant to understanding public pensions is state and local employment, compensation, and tax revenue, and public pension assets.
Related:
Employment
NASRA tracks private sector and state & local government employment on a monthly basis. Data is provided by the U.S. Bureau of Labor Statistics and is compiled by NASRA staff.

The U.S. Bureau of Labor Statistics reported that state and local governments added 5,000 jobs in July 2015 with an 8,000 job gain among local governments offset by a 3,000 job reduction among state governments. Since peaking in August 2008 state and local governments have shed 613,000 jobs, or approximately 3.1 percent of their total. By comparison private sector employment increased for the 65th straight month in July 2015.

The chart below compares the relative changes in combined state and local government and private sector employment since 2005.

Monthly Changes in State & Local Government & Private Sector Employment, 2005-2015

Compensation
NASRA reports on trends in private sector and state & local government employee costs of compensation and benefits. The Employment Cost Index (ECI) measures the change in the cost of labor through compensation (including wages and salaries and benefits) and is produced by the U.S. Bureau of Labor Statistics on a quarterly basis.

Public Pension Assets
NASRA tracks total financial assets held by state & local government retirement funds on a quarterly and annual basis. Data is provided by the U.S. Federal Reserve System and is compiled by NASRA staff.

State & Local Revenue
NASRA tracks the revenue generated by state and local income, sales, and property tax levies over time. Data is provided by the U.S. Census Bureau and is compiled by NASRA staff.