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How to read data
Transcript of How to read data
Step 2: The General Picture
What trends and exceptions are there?
Here's some for you to try!
Accelerating in Asia & Africa
Relatively constant increase elsewhere
More rapid growth since 1950
Exception: Europe, which declined
Peak in 1979
Trough in 2001
Rising dramatically recently
Volatile from 1969 to 1983, more stable decline from 1983 to 1999.
Step 3: Some specifics
What more detail can you give?
Talk about small parts e.g. particular years
Can you give values from the data?
can you USE the values e.g. the percentage change
Step 4 Combining and comparing data
What can you find out?
Comment on the trade performance of the UK
Jobs are lost in a recession
Jobs usually return to normal after 2 years
Apart from 2001 and 2007 when it took longer
16-19 year olds have higher unemployment
The deeper the recession, the longer it takes to recover
The current recession has reduced employment by more than 6%
The level of unemployment for 16-19 is nearly twice as high as the next highest and about three times the average
This is the most dramatic loss of jobs in the past 70 years and it is affecting young people the most dramatically
Step 1: Identify the data
What are the units?
Currency? e.g. $
Number e.g. population
e.g. GDP growth
What is the timeframe?
Is it showing average values?
Is the data indexed?
What is the source? Is it reliable?
Comment on inflation in the US
Why do we index?
How can you tell if it is indexed?