Sunday, November 8, 2009

Developing Economic Statistics

This article from the NY Times shows how economic statistics are misrepresenting the economy.
Grappling with these blind spots, nearly all of the 80 experts at the conference, which was sponsored by the Upjohn Institute and the National Academy of Public Administration, agreed that the statistics now published tend to overstate the strength of the economy. That view was shared by those who attended from the Bureau of Economic Analysis, the Bureau of Labor Statistics and the Federal Reserve, all big players in measuring economic performance.
The article primarily discusses how work done by foreign workers inflates the productivity gains of the U.S. workforce.

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