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December 2024 - With the release of the 2023 IMPLAN Data, the U.S. economy's structure is updated with the latest foundational data from the Bureau of Economic Analysis (BEA). This webinar explains how IMPLAN incorporates these critical updates, along with other methodological improvements and new data sources, to provide the most current and accurate economic data. Join IMPLAN's Chief Economist & Data Officer, Dr. Jenny Montell, and Senior Economic Data Developer, Wes Morgan, as they detail the annual data production process. They provide a high-level overview of the new 2017 BEA Benchmark I-O tables, discuss key methodological improvements like enhanced farm sector employment estimates, and showcase significant economic changes reflected in the new dataset. The presentation concludes with a preview of the forthcoming time series data. TIMESTAMPS / CHAPTERS: 0:00 - Introduction 4:30 - Overview of the Annual Data Production Process & Timeline 14:15 - Incorporation of the New BEA Benchmark I-O Tables 15:45 - How IMPLAN Uses and Augments the BEA Benchmark Tables 29:10 - Why IMPLAN's Industry List Differs from the BEA's 33:20 - Examples of Real-World Trends Reflected in the Benchmark Data 37:15 - Methodological Improvement: Farm Sector Employment Estimates 41:00 - Notable Economic Changes in the 2023 Data (GDP, Household Spending) 45:15 - Preview of the Forthcoming Time Series Data 50:30 - Live Q&A Session WHAT YOU'LL LEARN: An overview of IMPLAN’s comprehensive annual data production process. The importance of the new 2017 BEA Benchmark Input-Output (I-O) tables and how they form the new base for industry spending patterns. Key methodological improvements made in the 2023 data release, including more accurate farm employment estimates. Significant economic trends revealed in the latest data, including GDP growth and household spending patterns. Information about the upcoming time series data release, which will align all historical data to the new industry scheme. ABOUT IMPLAN: IMPLAN provides the most trusted economic impact analysis software and insights in the U.S. Our platform allows economists, planners, and analysts to quantify the entire economic impact of any project or policy in minutes. Learn more about IMPLAN: https://implan.com/ Request a Demo: https://implan.com/demo-request/ Subscribe for more expert insights: / @implancloud #IMPLAN #EconomicData #BEAbenchmark #2023Data #EconomicImpact