Base 2012 average annual wage is high in 2014 const SR13 589K BEA 575K QCEW 557K SR14 558K Effective average annual wage growth rate is high SR13 131 Driven by external forecast for the US economy ID: 562912
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Slide1
Why Income and TRS are High in SR13
Base (2012) average annual wage is high (in 2014
const
$)
SR13: $58.9K
BEA: $57.5K
QCEW: $55.7K
SR14: $55.8K
Effective average annual wage growth rate is high
SR13: 1.31%
Driven by external forecast for the US economySlide2Slide3Slide4Slide5
Why Income and TRS are High in SR13
TRS: Total Income is used as base
Includes non-money
rental value of owner-occupied
housing
interest on private pension plans, IRA and Keogh dividends
The ratio (TRS/Total Income) rises slightly
2012: 29%
2050: 33%Slide6
Income and Taxable Retail Sales
Total Income (BEA) vs Money Income (ACS, IRS)
For the forecast, we will derive money income via a set of multipliers tied to employment and population
[Money Income / Total Income] will be a constant ratio
Taxable retail sales: constant share of Money IncomeSlide7Slide8
Does data on county-level taxable transactions by type of business (NAICS
) exist?
CA BOE shows state-wide only
Motor Vehicles and Parts: 17%
Food and Drink Service: 16%
Gasoline: 14%
General Merchandise: 13%
Closing 9%
Building Materials: 7%
Food Stores: 6%
Miscellaneous Retail: 5%
Other Combined: 14%