Consumer Spending

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    teresacaldwell
    Hi Aymie, If your average salary includes wages plus benefits then this would be considered a labor income change. If you know there will be 200 new residents making an average of $55,000, then you will need to multiply these numbers to get your Labor Income Value. The induced affects show where or what industries these new residents are spending their income. Below is a link to an article that may be helpful: http://support.implan.com/index.php?option=com_content&view=article&id=454#3e-comparative-labor-income-change-activity Thank you, IMPLAN Staff
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    AmyPointet
    Thank you for your answer, this is REALLY helpful. I have a question regarding benefits, I understand it is the total cost of an employee to an employer. And it includes things like health insurance, retirement and more. Is a full list of all benefits available? And what percentage of employees wages do the benefits represent? Is it specific to the area, or is it a national average estimate? Thank you.
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    teresacaldwell
    Aymie, Unfortunately, we do not have a full list of possible benefits. We do have an EC to Wage and Salary conversion sheet, which would allow you to split Wage and Salary from Taxes and Benefits. However, you would still need to find a way to remove both payroll and income taxes in order to determine the actual portion related to benefits (there is no way to do this in the system). In addition, we do not create state-specific conversions between wage and salary income and employee compensation. The conversion sheet is based on national values.Please see the attached conversion file. Thank you, IMPLAN Staff

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