R/ConferenceBoardETI.R

In PCRA: Companion to Portfolio Construction and Risk Analysis

#' @title ConferenceBoardETI
#'
#' @description Monthly time series of the Conference Board Employment Trends
#' Index from November 1973 to December 2023.
#' 
#' @docType data
#'
#' @usage data(ConferenceBoardETI)
#
#' @format A data frame with a time series of month-end observations of the
#' Conference Board Employment Trends Index (ETI) from November 1973 to 
#' December 2023.
#' 									
#' \itemize{
#'  \item \strong{Date:} type `Date`. Last Day of Month. The time series extends 
#'  from November 1973 to December 2023.
#'  \item \strong{ETI:} type `num`. Level of the Conference Board Employment 
#'  Trends Index on the last day of the month.
#' }
#' 
#' @references
#' Chapter 13 (Expected Returns) of Martin, Philips, Scherer, 
#' Stoyanov and Li, Portfolio Construction and Risk Analysis, Springer, 2024.
#' 
#' @details This data set provides a monthly time series of the Conference Board 
#' Employment Trends Index (ETI) from November 1973 to December 2023. Details of
#' the index's construction as well as its most recent value can be found at 
#' https://www.conference-board.org/data/eti.cfm. Technical details related to the 
#' construction of the index are available at 
#' https://www.conference-board.org/pdf_free/press/Employment%20Trends%20Index%20Technical%20Notes65.pdf
#' while details of its revision in November 2020 can be found at
#' https://www.conference-board.org/pdf_free/press/Employment%20Trends%20Index%20Methodology%20Revision%20November%209%20202023.pdf
#' The change was made following the COVID-19 driven recession in 2020. 
#' The Conference Board ETI combines 8 measures of employment to create a composite
#' index of employment trends.
#' 1. Percentage of respondents who say they find “Jobs Hard to Get” 
#' (Source: The Conference Board Consumer Confidence Survey)
#' 2. Initial Claims for Unemployment Insurance, State Programs 
#' (Source: U.S. Department of Labor).
#' 3. Percentage of Firms With Positions Not Able to Fill Right Now 
#' (Source: © National Federation of Independent Business Research Foundation)
#' 4. Number of Employees Hired by the Temporary-Help Industry 
#' (Source: U.S. Bureau of Labor Statistics)
#' 5. Part-time Workers for Economic Reasons (Bureau of Labor Statistics)
#' 6. Job Openings (Bureau of Labor Statistics, through Job Openings and 
#' Labor Turnover Survey):
#' 7. Industrial Production (Federal Reserve Board) 
#' 8. Real Manufacturing and Trade Sales (U.S. Bureau of Economic Analysis). 
#'
#' @source The Conference Board. The Conference Board ETI Data is provided by the
#' Conference Board for educational purposes only. The Conference Board makes no 
#' representation or warranty of any kind, express or implied, including regarding 
#' the accuracy, adequacy, validity, reliability, availability or completeness of 
#' The Conference Board ETI Data. All rights reserved. Redistribution of the data 
#' is not permitted, and use use of the data in derivative works is not permitted 
#' without the written permission of the Conference Board.
#' 
#' @examples  
#' data(ConferenceBoardETI)
#' names(ConferenceBoardETI)
#' head(ConferenceBoardETI, 5)
#' tail(ConferenceBoardETI, 5)
"ConferenceBoardETI"