From the course: Economics for Business Leaders
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Using economics jobs data
From the course: Economics for Business Leaders
Using economics jobs data
- Having a job is important for everyone, but if you're a business leader or an executive, you're concerned about a lot more than just your own job, you're concerned about what the labor force looks like broadly in the economy, because that's really important for how your business is probably going to perform. And there are three key kinds of data that you should be looking at. First are wages. This data reflects what average wages are for certain jobs, as well as how much they've been rising or more rarely falling. Second is the number of net new jobs created. This figure represents the number of jobs created in a month minus the jobs lost in that month. This data can provide insight into competition for new hires and new postings. Third is the unemployment rates. This is the most well known jobs data. And when people are looking at the unemployment rate, they're often trying to compare it over time. In other words, is…
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