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Strength of correlation (R squared): 0.828 (this correlation is strong)
Outliers:
North Carolina,
Georgia
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X Axis |
Y Axis |
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| Variable: |
Economy > GSP > Compensation of Employees > Textile and textile product mills |
Industry > Textile product mills > Total cost of materials |
| Plot Display: |
Logarithmic (base 10) |
Linear |
| Definition: |
Textile and textile product mills, Compensation of Employees (current dollars) Compensation of Employees is a statisical term which refers to the total gross (pre-tax) wages paid by employers to employeesfor work done in an accounting period, such as a quarter or a year. It represents roughly the total labor cost to an employer.
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This term refers to direct charges actually paid or payable for items consumed or put into production during the year, including freight charges and other direct charges incurred by the establishment in acquiring these materials. It includes the cost of materials or fuel consumed, whether purchased by the individual establishment from other companies, transferred to it from other establishments of the same company, or withdrawn from inventory during the year.
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| Source: |
U.S. Department of Commerce, Bureau of Economic Analysis, Regional Economic Analysis Division. Data for 2003.
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Annual Survey of Manufactures, 2004
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| Correlations: |
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