FY 2024 DEPARTMENT OF LABOR BUDGET IN BRIEF https://www.dol.gov/general/budget
1) Current Population Survey (CPS) -- In FY 2024, the BLS request includes $7,860,000 and 7 FTE to expand and modernize data capacities by addressing the necessary investment to the long-term relevance and sustainability of the Current Population Survey (CPS), including the capability to produce new or additional statistics on groups or workers currently not being captured. With the requested resources, the BLS will collaborate with the Census Bureau to research, test, and implement methods to modernize the CPS, maintain the current sample size, and improve the CPS data collection methods and response rates.
2) Job Openings and Labor Turnover Survey (JOLTS) -- The FY 2024 request includes $9,600,000 and 27 FTE to improve JOLTS data timeliness by producing earlier preliminary (first release) estimates; enhance relevance and reliability by roughly doubling the current sample; and add depth by allowing for a series of focused questions on labor market issues to enhance the understanding of openings, hires, and separations.
3) Occupational Employment and Wage Statistics (OEWS) -- The FY 2024 request also includes $1,137,000 and 1 FTE to restore agricultural industries to the OEWS program. Accurate data on employment and wages in the agriculture industries are needed to provide a complete and consistent picture of the labor market by industry, occupation, and area.
4) Consumer Price Index (C-CPI-U) -- The BLS request for FY 2024 also includes $1,000,000 to improve the timeliness of the final chained C-CPI-U by 3 months. The CPI is the nation’s principal gauge of inflation, providing measures of consumer price change for all urban areas, and is one of the nation’s most important Federal economic indicators. For example, the C-CPI-U currently is used for indexation of Federal income tax brackets and a timelier final C-CPI-U could make it a more viable alternative for other Federal escalation and indexation purposes.
5) Census Bureau’s Supplemental Poverty Measure (SPM) -- In addition, the BLS request for FY 2024 includes $11,870,000 and 25 FTE to produce production-quality thresholds to support the Census Bureau’s SPM, to research the nature and construction of a consumption-based poverty measure, and to research a chained CPI for low-income households.