What's New - June 2004
June is a big month for college graduations, and in keeping with that theme, our site of the month highlights a brilliant collection of higher education statistics. HigherEdInfo.Org, assembled by the National Information Center for Higher Education Policymaking and Analysis, presents a diverse array of data on higher education on a state-by-state basis. You'll find information grouped into a series of topics including preparation, participation, affordability, student learning, completion, benefits, employment, and finance. These groupings offer related sets of data. For example, "Preparation" includes a variety of measures of a state's K-12 system, dropout rates and test scores, while "participation" shows data on the extent of college enrollment, the likelihood of enrolling in college immediately after high school, and flows of college students among states.
Some of the most interesting data are estimates of the higher education pipeline--the flow of individuals through the educational system from K-12 through college completion. HigherEdInfo offers its estimates of the likelihood of a 9th grade student completing high school, enrolling in college, and completing a college program within 150 percent of the usual time required for a degree (i.e., completing a bachelors degree within six years of high school graduation).
The site integrates data from a diverse array of sources and summarizes it
(by default in a series of color-coded maps of state data). You also can graph the results or drill down to specific data. Where data for a number
of different years are available, you're given the option of choosing a specific
year. The site also contains links that examine the policy implications of
the data and show the sources from which it is derived. If you want a site
that compares the overall performance of state education systems, particularly
as they relate to higher education, pay a visit to:
http://www.higheredinfo.org
The regional accounts folks at the U.S. Bureau of Economic Analysis are a pretty inventive bunch, creating highly useful regional data series on a budgetary shoestring. They produce one of EconData.Net’s favorite data series, the Regional Economic Information System (REIS), which provides the nation’s most comprehensive tally of income and employment at the state, metro, and county level. About ten years ago, BEA’s enterprising analysts unveiled Gross State Product (GSP), estimates of state-level economic activity as measured by value added, for 63 industries and the state as a whole. Typically, GSP estimates have been released 17 months after the end of the calendar year; BEA has partial funding to reduce that lag to 6 months.
While
the GSP acceleration effort is underway, BEA staff are planning future regional
data enhancements, one of which, potentially, is producing
annual estimates of Gross Metropolitan Product (GMP), by industry. However, with
budgetary constraints and pressing priorities on other topics (e.g., measuring
offshoring activity), funding for a GMP series is difficult to obtain. As
practicing regional analysts ourselves, we know that a GMP series would be a highly valuable addition to the practitioners’ and researchers’
analytic toolbox. At present, we don’t truly know the size and composition
of our regional economies as they unfold over time, a glaring hole in our
understanding. REIS provides total income figures, but total income reflects
only about two-thirds of regional value-added activity. While Global Insight
(formerly DRI-McGraw-Hill) annually produces GMP estimates on behalf of the U.S.
Conference of Mayors (see http://www.usmayors.org/uscm/news/press_releases/documents/metroeconreport_020604.pdf),
the relative accuracy of these estimates can be questioned (of necessity, they
use a top-down rather than bottom-up methodology) and disaggregation by industry
and component is not provided.
Now
is your chance to provide your opinion. Would an annual Gross Metropolitan
Product series be of value to you? As EconData.Net has access to one of the
largest data-using communities in the country, we ask you to let BEA hear your
thoughts. A GMP series will not appear unless data users express strong support.
A critical mass of positive words from you and your colleagues will have
influence on top BEA executives, the BEA Advisory Council, and appropriate
Congressional committees as funding decisions are made for upcoming fiscal
years.
So:
If you think that the availability of GMP would be of value, please take a
moment and write an e-mail to that effect to John Kort, Chief, BEA Regional
Economic Analysis Division, at john.kort@bea.gov.
It’d be helpful, we think, to say a bit about the nature of your work and
interests and how you would use a GMP series to enhance them. Please cc
EconData.Net (comments@econdata.net)
so we can keep track of the communications. If you want to get a sense of how a
GMP series would look, you can explore the GSP web site (http://www.bea.gov/bea/regional/gsp.htm).
In a couple months, once BEA absorbs your missives, we’ll let you know how they’ve been received; if a funding request for GMP develops “legs,” we’ll periodically update you on progress, and may ask you to weigh in again, if necessary. Historically, the regional data community has not been a vocal, well-organized constituency that is effective in seeing its needs are addressed in federal budget and program decisions. Consider this request an experiment in making ourselves heard.
A group representing a 115 foreign investors and the local affiliates of international firms trumpets the BEA data and other information in their website. The Organization For International Investment (OFII) promotes the value of what they call "insourcing"-- US employment at foreign-owned firms -- as a boon to the US economy. They highlight BEA's state by state data, and also provide a listing of recent US investments by international firms. You'll find this information at: