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Measuring Economic Aggregates

The Unemployment Rate

The Bureau of Labor Statistics tells you everything you could want to know about the unemployment rate, and a lot more, too:

Weaknesses of Unemployment Statistics

The text only talks about the U.S. unemployment rate. Here is a glimpse at what life looks like in other places:

Measuring Inflation

A blog run by a couple of economists addressed the issue of how to measure inflation:

What would a product worth $1.00 in 1929 have been worth in 1955? You can use this calculator from the Federal Reserve Bank of Minneapolis to find out:

Getting Real
Problems Measuring Inflation

The cost of inflation is addressed in this article from the Federal Reserve Bank of San Francisco:

Gross Domestic Product
Limitations of GDP Statistics

This article in The Concise Encyclopedia of Economics gives a comprehensive look at what GDP is, how it is measured, and what it is used for:

Leading Indicators

Important economic measures are summarized in this short article from the Federal Reserve Bank of San Francisco:

These links were checked on July 5, 2008

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Copyright Robert Schenk

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