[Federal Register Volume 83, Number 118 (Tuesday, June 19, 2018)]
[Notices]
[Pages 28450-28451]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-13077]


=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF LABOR

Bureau of Labor Statistics


Information Collection Activities; Comment Request

AGENCY: Bureau of Labor Statistics, Department of Labor.

ACTION: Notice of information collection; request for comment.

-----------------------------------------------------------------------

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. 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 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 August 20, 2018.

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' 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. As of 
March 2018, 91 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.
    The Program 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's sampling methodology results in the large 
companies being sampled on a frequent basis. As a result of the 
continual fielding of these companies, Field Economists combine 
collection efforts for multiple IPP samples, as they deem appropriate. 
The collection of multiple IPP samples at once results in fewer visits 
and consequently, reduced burden.
    Also, IPP has started revising its Data Collection Procedures, with 
the goal of improving collection methods for

[[Page 28451]]

respondents (and for the Field Economists).

III. Desired Focus of Comments

    The Bureau of Labor Statistics is particularly interested in 
comments that:
    <bullet> 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.
    <bullet> 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.
    <bullet> Enhance the quality, utility, and clarity of the 
information to be collected.
    <bullet> 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.
    Title of Collection: International Price Program (IPP) U.S. Import 
and Export Price Indexes.
    OMB Number: 1220-0025.
    Type of Review: Extension without change of a currently approved 
collection.
    Affected Public: Private Sector, Business or other for-profits.

----------------------------------------------------------------------------------------------------------------
                                                                                   Average time      Estimated
            Form                   Total           Frequency           Total       per response    total burden
                                respondents                          responses        (hours)          hours
----------------------------------------------------------------------------------------------------------------
Form 3008...................  ..............  Annually..........
    Imports.................           1,500  ..................           1,500             1.0           1,500
    Exports.................           1,000  ..................           1,000             1.0           1,000
                             -----------------------------------------------------------------------------------
        Total...............           2,500  ..................           2,500  ..............           2,500
Repricing Form..............  ..............  Monthly...........
    Imports.................           2,700  9.0 \1\...........          24,300        \2\.4438          10,784
    Exports.................           1,750  9.3 \1\...........          16,275        \3\.4541           7,390
                             -----------------------------------------------------------------------------------
        Total...............           4,450  ..................          40,575  ..............          18,174
                             -----------------------------------------------------------------------------------
            Totals..........  ..............  ..................          43,075  ..............          20,674
----------------------------------------------------------------------------------------------------------------
\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 9.3 months per year for exports and 9.0 months per year for imports.
\2\ Time to reprice is based upon 5 minutes of response time per item x 5.325 items = 26.625 minutes/60 = .4438
  hours.
\3\ Time to reprice is based upon 5 minutes of response time per item x 5.449 items = 27.245 minutes/60 = .4541
  hours.

    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 June 2018.
Eric P. Molina,
Acting Chief, Division of Management Systems.
[FR Doc. 2018-13077 Filed 6-18-18; 8:45 am]
 BILLING CODE 4510-24-P