[Federal Register Volume 80, Number 94 (Friday, May 15, 2015)]
[Notices]
[Pages 28011-28013]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-11737]
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DEPARTMENT OF LABOR
Bureau of Labor Statistics
Proposed Collection, Comment Request
ACTION: Notice.
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SUMMARY: The Department of Labor, as part of its continuing effort to
reduce paperwork and respondent burden, conducts a pre-clearance
consultation program to provide the general public and Federal agencies
with an opportunity to comment on proposed and/or continuing
collections of information in accordance with the Paperwork Reduction
Act of 1995 (PRA95) [44 U.S.C. 3506(c)(2)(A)]. This program helps to
ensure that requested data can be provided in the desired format,
reporting burden (time and financial resources) is minimized,
collection instruments are clearly understood, and the impact of
collection requirements on respondents can be properly assessed. The
Bureau of Labor Statistics (BLS) is soliciting comments concerning the
proposed extension of the International Price Program U.S. Import and
Export Price Indexes. A copy of the proposed information collection
request (ICR) can be obtained by contacting the individual listed below
in the Addresses section of this notice.
DATES: Written comments must be submitted to the office listed in the
ADDRESSES section of this notice on or before July 14, 2015.
ADDRESSES: Send comments to Nora Kincaid, BLS Clearance Officer,
Division of Management Systems, Bureau of Labor Statistics, Room 4080,
2 Massachusetts Avenue NE., Washington, DC 20212. Written comments also
may be transmitted by fax to 202-691-5111 (this is not a toll free
number).
FOR FURTHER INFORMATION CONTACT: Nora Kincaid, BLS Clearance Officer,
202-691-7628 (this is not a toll free number). (See ADDRESSES section.)
SUPPLEMENTARY INFORMATION
I. Background
The U.S. Import and Export Price Indexes, produced by the Bureau of
Labor Statistics' International Price Program (IPP), measure price
change over time for all categories of imported and exported products,
as well as selected services. The IPP has produced the U.S. Import
Price Indexes continuously since 1973 and the U.S. Export Price Indexes
continuously since 1971. The Office of Management and Budget has listed
the Import and Export Price Indexes as a Principal Federal Economic
Indicator since 1982. The indexes are widely used in both the public
and private sectors. The primary public sector use is the deflation of
the U.S. monthly Trade Statistics and the quarterly estimates of U.S.
Gross Domestic Product; the indexes also are used in formulating U.S.
trade policy and in trade negotiations with other countries. In the
private sector, uses of the Import Price Indexes include market
analysis, inflation forecasting, contract escalation, and replacement
cost accounting.
The IPP indexes are closely followed statistics, and are viewed as
a key indicator of the economic environment. The U.S. Department of
Commerce uses the monthly statistics to produce monthly and quarterly
estimates of inflation-adjusted trade flows. Without continuation of
data collection, it would be extremely difficult to construct accurate
estimates of the U.S. Gross Domestic Product. In fact, DOL-BLS'
[[Page 28012]]
attempt to curtail publication of the export price indexes beginning in
FY15 was met with resistance from the Commerce Department who explained
that a viable substitute is not available. The Beyond the Numbers
article ``Analyzing alternatives to export price indexes'' (http://www.bls.gov/opub/btn/volume-3/analyzing-alternatives-to-export-price-indexes.htm) explores alternatives to using IPP's export price indexes
to deflate the U.S. Gross Domestic Product and explains why there are
currently no comparable replacements.
Additionally, Federal policymakers in the Department of Treasury,
the Council of Economic Advisers, and the Federal Reserve Board utilize
these statistics on a regular basis to improve these agencies'
formulation and evaluation of monetary and fiscal policy and evaluation
of the general business environment.
II. Current Action
Office of Management and Budget clearance is being sought for the
U.S. Import and Export Price Indexes. The IPP continues to modernize
data collection and processing to permit more timely release of its
indexes, and to reduce reporter burden. The IPP has expanded the use of
its web application, introduced in 2003 to allow respondents to update
their data online and more rapidly than using a paper-based form.
Through March 2015, 89 percent of IPP respondents were providing prices
via the web application or had agreed to start using this repricing
method. Field Economists currently offer web repricing to all new
respondents and at initiation, it is the preferred method of collection
offered to companies. IPP continues to reduce burden for web
respondents through system enhancements.
IPP has also facilitated the registration process for respondents
who are currently using web repricing to provide prices for the
Producer Price Index and who have also been initiated to provide prices
(online) for IPP. The new process allows these multi-program
respondents to self-register following the steps outlined in a
pamphlet. Under the old process, IPP staff had to work with PPI staff
on technical changes before multi-program respondents could set up and
begin web repricing for IPP. Respondents therefore had to wait
(multiple days) for an IPP staff member to contact them and walk them
through the web repricing set-up.
The Program also continues its multi-year effort to develop a more
effective sampling and collection strategy for companies that are
considered major importers or exporters. Research has shown that, while
hundreds of thousands of companies import and export goods into and
from the United States each year, the volume of trade (in terms of
dollar value) is heavily concentrated on a very small percentage of
these companies. IPP is developing a plan for conducting a pilot for a
limited set of major companies for the selected alternative resampling
strategy. This approach would reduce burden by avoiding continual
visits that are part of the current resampling strategy.
III. Desired Focus of Comments
The Bureau of Labor Statistics is particularly interested in
comments that:
Evaluate whether the proposed collection of information is
necessary for the proper performance of the functions of the agency,
including whether the information will have practical utility.
Evaluate the accuracy of the agency's estimate of the
burden of the proposed collection of information, including the
validity of the methodology and assumptions used.
Enhance the quality, utility, and clarity of the
information to be collected.
Minimize the burden of the collection of information on
those who are to respond, including through the use of appropriate
automated, electronic, mechanical, or other technological collection
techniques or other forms of information technology, e.g., permitting
electronic submissions of responses.
Type of Review: Extension without change of a currently approved
collection.
Agency: Bureau of Labor Statistics.
Title: International Price Program (IPP) U.S. Import and Export
Price Indexes.
OMB Number: 1220-0025.
Affected Public: Private Sector, Business or other for-profits.
Estimated Total Burden Hours
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Total Total Average time per
Form respondents Frequency responses response Estimated total burden
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Form 3008............................. .............. Annually.................. .............. ......................... .........................
Imports........................... 1800 .......................... 1800 1.0 hour................. 1800 hours.
Exports........................... 1200 .......................... 1200 1.0 hour................. 1200 hours.
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Total......................... 3000 .......................... 3000 ......................... 3,000 hours.
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Form 3007D............................ .............. Monthly................... .............. ......................... .........................
Imports........................... 3000 8.8\1\.................... 26400 .4260\2\ hours........... 11246 hours.
Exports........................... 1950 9.0\1\.................... 17550 .4022\3\ hours........... 7059 hours.
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Total......................... 4950 .......................... 43950 ......................... 18305.
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Totals.................... .............. .......................... 46950 ......................... 21305.
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\1\ During initiation, the respondent determines how many months he/she will need to supply data in a given year based upon how often the company
changes its pricing information. The average company is requested to supply information 9.0 months per year for exports and 8.8 months per year for
imports.
\2\ Time to reprice is based upon 5 minutes of response time per item x 5.113 items = 25.565 minutes/60 =.4260 hours.
\3\ Time to reprice is based upon 5 minutes of response time per item x 4.826 items = 24.130 minutes/60 = .4022 hours.
[[Page 28013]]
Total Burden Cost (capital/startup): $0.
Total Burden Cost (operating/maintenance): $0.
Comments submitted in response to this notice will be summarized
and/or included in the request for Office of Management and Budget
approval of the information collection request; they also will become a
matter of public record.
Signed at Washington, DC, this 12th day of May 2015.
Kimberly D. Hill,
Chief, Division of Management Systems, Bureau of Labor Statistics.
[FR Doc. 2015-11737 Filed 5-14-15; 8:45 am]
BILLING CODE 4510-24-P