Bad government statistics can cost the economy billions

Article at The Economist: “The life of American government beancounters is tough, and not just at cocktail parties. They have a hard time persuading people to talk to them at work, too. A decade ago nearly nine in ten Americans, when approached, agreed to fill out the Current Population Survey, which is administered to about 60,000 households each month and asks about, among other things, employment. Fewer than seven in ten do so now (see chart 1). For the Consumer Expenditure Survey, which tries to capture 3,700 households monthly, the response rate is down from 68% to 40%…(More)”