Quote:
Originally Posted by PR_Tom
It all seems like tossing bones and colored stones on a diagram and reading them.
I guess we have to just be reasonably sure that they're giving useful data and get a good read.
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The data is collected by surveying over 100,000 businesses.
For unemployment you have both the government survey and the ADP payrolls report so you have a private sector check on the government numbers. ADP's survey covers 24 million people.
Think about how difficult it is to measure inflation (or the GDP deflator) though. Hundreds of employees scouring stores trying to find a bracelet just like the one used in last month's survey. But wait! - it's on sale this month. Now what?