Accurate Employment Statistics Enhancement Act Becomes Law
~New law will assure accuracy of regional employment and employer statistics~
TALLAHASSEE – Governor Charlie Crist signed the recently-passed Accurate Employment Statistics Enhancement Act into law on June 1, 2009. The Act will require Professional Employer Organizations (PEOs) to begin reporting a count of each of their clients individually each quarter to the Agency for Workforce Innovation’s Labor Market Statistics Center.
“The Accurate Employment Statistics Enhancement Act will help ensure more accurate employer statistics reporting, thus allowing economic development programs and job training funds to be directed to the areas of greatest need,” Agency for Workforce Innovation Interim Director Cynthia Lorenzo said. "I applaud bill sponsors Sen. Mike Fasano (R-New Port Richey), Rep. Steve Crisafulli (R-Merritt Island) and the National and Florida Associations of Professional Employer Organizations for recognizing the need to collect accurate employment and wage data.”
Under existing Unemployment Compensation law, PEOs are allowed to report the employment and wage data of all businesses that use their services under one account number, which can distort industry and geographic economic data. For example, if a PEO has 1,000 employers/clients throughout the state, they have been reported as one employer in one location, instead of 1,001. Using this reporting methodology, vital statistics such as job gains and losses by industry, types of industries, numbers of employers and geographic location are lost. This could possibly cause federal and state resources, used for job training programs to meet the needs of Florida’s businesses, to be misallocated.
The Accurate Employment Statistics Enhancement Act will require PEOs to report the same employment and wage data about their clients that is required of all other Florida employers. Some of the many benefits of this new law include:
Assisting workforce and economic development decision makers in properly allocating job training resources to ensure a well-trained and highly-skilled workforce;
Ensuring employers have access to current competitive conditions and wage rates, helping them make informed recruiting and business location decisions;
Assisting job seekers in making informed education, training and career decisions;
Ensuring accurate data for economists and policy makers when conducting forecasting and budget planning;
Ensuring accurate data for elected officials when assessing economic impacts of legislation;
Ensuring accurate data for the media in order to spotlight economic trends for Florida’s statewide and local economies.
Governor Crist signed the Accurate Employment Statistics Enhancement Act into law on June 1, 2009. The new law goes into effect on October 1, 2009 and the first reports are due in October 2010.