Home > Term: relative importance
relative importance
BLS publishes what is called a "relative importance" for each commodity and commodity grouping. The relative importance of an item represents its basic value weight, including any imputations, multiplied by the relative of price change from the weight date to the date of the relative importance calculation, expressed as a percentage of the total value weight for the "all commodities" category.
- Part of Speech: noun
- Industry/Domain: Labor
- Category: Labor statistics
- Company: U.S. DOL
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Creator
- Levi Taylor
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