Statistics

China is set to deliver another lacklustre economic report card

The numbers to be released on Monday are expected to show retail sales rising 2.9% in November from a year earlier, matching the weakest gain since August 2024

Creating a class of “platform workers” distinct from employees would make it easier to understand the legal protections available, says MOM.

Seen and supported: Why data is indispensable for the platform economy

Strong national data and international collaboration could turn this critical workforce from invisible to included

The rush to find statistical significance in pools of data has led to discredited studies that are the tip of a statistical iceberg.
THE BROAD VIEW

The folly of data mining

The problem we face today is not data scarcity but surfeit – and big data sets can easily be mined and tortured to identify patterns that are utterly useless

There were likely 818,000 fewer non-farm payroll jobs created in the 12 months to March 2024 than what the Bureau of Labor Statistics had previously announced.

The jobs numbers went down, but trust in them shouldn’t

When government agencies revise their data, as the US’ Bureau of Labor Statistics did last month, it usually means they have more reliable information

In strategist reports, causation is often claimed when the two numbers are merely correlated – if even that.
THE BOTTOM LINE

Relative measures can be absolutely wrong

Comparing one data point with another can be misleading, nonsensical or even dangerous

The digital, green and care economies are of growing importance, with more granular divisions needed to classify the jobs involved.

Singapore’s statistical standard adds job codes for roles in tech, green economy

SINGAPORE has created new occupational codes for jobs in infocomm technology and the green economy in its national statistical standard, as the country has made strides in these areas and related jobs...

Britain's statistics regulator raised concerns about how the Office for National Statistics calculates unemployment and other key labour market data.

UK regulator raises concerns about labour data quality

Britain’s statistics regulator raised concerns on Tuesday (Nov 14) about the Office for National Statistics’ (ONS) approach to calculating unemployment and other key labour market data, following a bi...

Britain was the only Group of Seven economy yet to rebound past pre-Covid levels, until it wasn’t.

The danger of building strong narratives on weak data

Hazy statistics have painted too gloomy a picture of Britain, but similar issues affect many countries

It’s important in any democracy for people to know how public money is spent, but perhaps the only thing most people hear on such occasions is: “Big number, big number, big number, big number.”
THE BOTTOM LINE

People are numb to big numbers

Millions, billions, trillions – the human brain isn’t wired to comprehend information on a large scale

Going by the official statistics, US construction productivity hasn't improved, and may even have declined, over the last 50 years. Overregulation may have been a factor.

Regulation, productivity and the meaning of life

Safety and environmental rules may reduce GDP; but maybe that’s OK