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Everyone needs trustworthy employment data as this affects every single business in the country. If you don't know what the real employment rate is and you see
by mlinhares 1y ago
Everyone needs trustworthy employment data as this affects every single business in the country. If you don't know what the real employment rate is and you see your business going down you might think the problem is your business and not the whole economy.
You can't run a modern country without collecting real world data about the country's economy.
- parineum 1y agohow would that change your actions? Would it make you feel better about your business failing?
- altcognito 1y agoIf employment is strong, you might add marketing, because maybe you're not doing enough to get the money that is clearly being passed around. If employment is weak, you might cut staff yourself, or maybe cut costs elsewhere. You might change your product mix to serve a different set of customers. You could change pricing. No. It is not about feeling better.
- blitzar 1y ago> real world data about the country's economy The data is backward looking, sometimes by as much as 3 months, rarely less than a month old. The only way the "data" knows there is a reccession is if it stared 3/4 of a year ago. If you are a CEO or running a business and you are blaming your business decisions on the stats from 3 months ago that came out today you should get out of the chair and let someone with a brain sit in it.