Presently, BEA’s early monthly estimates of wages and salaries are based on the Bureau of Labor Statistics (BLS) employment survey, which only covers average weekly hours and earnings of production and nonsupervisory workers and excludes irregular pay, such as bonuses and the gain on the exercise of stock options. In April 2007, the BLS began releasing experimental monthly data that cover wages and salaries for all employees and that include both regular and irregular pay. BEA is evaluating this new data source, and when sufficient data exist to produce reasonable estimates, BEA plans to incorporate these data to prepare the early estimates of wages and salaries, which should provide an improved measure of personal income. In addition, BEA is evaluating alternative indicators of wages and salaries -- including data on withheld taxes (see FAQ, Can BEA use data on withheld taxes to improve its early estimates of wages and salaries?)
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