Streams

Uncommon Economic Indicators Roundup

Tuesday, June 23, 2009

Steven Greenhouse, labor and workplace reporter for The New York Times and author of The Big Squeeze: Tough Times for the American Worker, helps explore some of the notable contributions to the Uncommon Economic Indicators website.

Guests:

Steven Greenhouse
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Comments [2]

Tom from Cooper Sq. Manhattan

Isn't there an important distinction to be made between an economic sample-story and an indicator? The later being more than just a representation of economic event, but something with implications for a trend, something from which we can project into the economic FUTURE, not merely the present? An indicator follows trend by having --at the least-- a) a baseline of experience, b) a variance from the baseline, and c) a significant trend-implication. All three of these elements are required or there is no indicator. Trends can generally include: steadiness, departure-points, peaking, or bottoming. It is THIS TREND information which makes an indicator into a useful instrument. Community building should not humor decline into superficial understandings, but should keep focus on skilled observation. Opinions alone, or cute stories alone that merely ILLUSTRATE economic hardship, are NOT INDICATORS in the scientific sense unless they also satisfy all the definitive requirements of "indication". Let's up the game for integrity, please, in using the term "indicator". Ciao, T

Jun. 23 2009 11:11 AM
Virginia from Bronx

We need to look out the window because pigs just might be flying: I know someone with a great apartment in Chelsea whose rent was reduced by $400--the landlord's offer, the person didn't ask for it. Apparently the landlord is anticipating that people might start to have difficulties and doesn't want to lose them.

Jun. 23 2009 10:57 AM

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