Economist Weekly Market View
Lies, damned lies, and statistics
- The firing of a little-known labour statistician by President Trump has brought to the fore an ongoing debate amongst economists.
- Nonetheless, COVID appears to have left a lasting impact on the ability of statisticians to collect data across the world, with another example being the UK's labour force survey, which the office for National Statistics has placed a large health warning on.
- In Ireland, the concentration of a smaller number of very large multinationals often renders initial estimates of GDP useless, but we have also seen large revisions to our labour force survey, including the sharp upward revision in unemployment recently.
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