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How to read data

Step by step
by

M Seccombe

on 20 July 2015

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Transcript of How to read data

How to read data
Step 2: The General Picture
What trends and exceptions are there?
Upwards?
Downwards?
Accerating?
Slowing down?
Outliers?
Corrections?
Here's some for you to try!
Upward
Accelerating in Asia & Africa
Relatively constant increase elsewhere
More rapid growth since 1950
Exception: Europe, which declined
Upward
Inconsistent/Erratic
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?
Even better...
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
Some ideas
First level:
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
Second level:
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
Third level:
This is the most dramatic loss of jobs in the past 70 years and it is affecting young people the most dramatically
So? Why?
Step 1: Identify the data
What are the units?
Currency? e.g. $
Number e.g. population
Percentage
e.g. GDP growth
What is the timeframe?
Is it showing average values?
Is the data indexed?
What is the source? Is it reliable?
Snapshot?
Over time?
Long period
Short period
"Chunking"
Comment on inflation in the US
Why do we index?
How can you tell if it is indexed?
Full transcript