Posts Tagged ‘Bureau of Labor Statistics (BLS)’

  • Sunk cost and opportunity cost explain the low quit rate during the great recession.

    One Reason to Quit A Job

    Jun 14, 14 • 437 Views • No Comments

    Have you ever gone through a series of phone messages that finally take you to the department you need? Then, after 5 minutes, 10 minutes, 15, no one picks up and you start to wonder if you should hang up. Deciding what to do, most of us focus how long we...  [read more]

  • Tough to quantify, the monthly job creation number is much more than a number.

    How Wrong Are BLS Jobs Numbers?

    Jun 7, 14 • 363 Views • No Comments

    China and Nepal used to disagree about the height of Mount Everest. Nepal counted the snow caps while China just included the rock height. Consequently, Nepal said the peak was 4 meters higher than China. Then, in 2010, China said okay, the official...  [read more]

  • Consumer Price Index and Billion Prices Project are different inflation yardsticks.

    Inflation: What A Billion Prices Tell Us

    May 13, 14 • 648 Views • No Comments

    Every year, my class meets Harriet Shaw through a PBS NewsHour broadcast from 1991. An economic assistant for the Bureau of Labor Statistics (BLS), she is a professional shopper who tracks prices. In the newscast, we follow her up and down store...  [read more]