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6351.0.55.001 - Labour Price Index: Concepts, Sources and Methods, 2004  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 17/11/2004   
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Contents >> Glossary

ABS Business Register


The ABS maintained register of businesses and other organisations (government departments, non-profit organisations etc.) operating in Australia. This is used to determine the population for many ABS surveys.


Chaining


The process by which an index series based on one set of expenditure weights is 'linked' to another index series based on a different set of weights, in such a way that the change in weights does not, in itself, alter the level of the index.


CPI


Consumer Price Index - a general indicator of the rate of change in prices paid by households for consumer goods and services.


EA


Elementary Aggregate - Groups of jobs with the same state/territory, sector (private/public), industry and occupation characteristics.


Expenditure weights


A measure of the relative importance of each elementary aggregate, based on employers' expenditures on labour.


Labour price index


Measures changes in the price of labour. Includes wages and salaries, overtime, bonuses (only in the labour price index including bonuses), annual and public holiday leave, superannuation, payroll tax, and workers' compensation.


Non-wage price index


Measures change in the price of non-wage costs. The four non-wage indexes relate to superannuation, annual and public holiday leave, payroll tax, and workers' compensation.


Price index


A composite measure of the prices of a pre-defined set of items expressed relative to a defined base period.


Price movement


Changes in price levels between two or more periods. Movements can be expressed in money values, as price relatives or as percentage changes.


Price relative


A measure of price movements. The ratio of the price level in one period to the price level in another.


Pure price change


A price change unaffected by changes in the quantity and quality of labour services.


Quality adjustment


The elimination of the effect that changes in the quality has on price in order to isolate the pure price change.


Reference base period


The period for which an index is given a value of 100.0.


Rotating panel methodology


The sample selection methodology used to refresh the sample of businesses in the LPI survey.


Sampling weight


The sampling weight reflects the overall probability of selection for a job as well as the extent and type of non-response.


Wage price indexes.


Measure changes in the price of wage costs. The four wage price indexes include; ordinary time hourly rates of pay excluding bonuses, ordinary time hourly rates of pay including bonuses, total hourly rates of pay excluding bonuses, and total hourly rates of pay including bonuses.


WCI


Wage cost index - previous name for the wage price index.

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