Running head: INTERPRETING AND MANAGING ECONOMIC DATAInterpreting and Managing Economic DataNameInstitutionDate1INTERPRETING AND MANAGING ECONOMIC DATA2In the management of business organizations, the decision-making process is key to thesuccess of the given business. For a business to come up with sound and effective decisions,understanding, interpreting as well as managing the economic data is an essential factor toconsider. For this discussion paper, I will entirely focus on the article, Misleadingunemployment numbers may be prompting the Fed and the Bank of England to make a hugeerror. The main purpose of this article is to show the wage growth in the US ("Misleadingunemployment numbers may be prompting the Fed and the Bank of England to make a hugeerror", 2018).This article explains that one of the main mysteries of the economy currently is why thereis little growth in wages even when the rate of unemployment is low. Usually, in the case ofnear-full or full employment, wages and salaries increase because employers face a big challengein finding and keeping their employees (Harvey, 2014). But that is not the case because the realwage growth in the US after inflation is 1%.INTERPRETING AND MANAGING ECONOMIC DATA3The graph below shows the graph of the rate of unemployment in the US from 1st June2017 to 1st August 2018.A graph of unemployment rate against date4.54.44.34.24.14.03.93.83.73.63.5From the given graph, it is ...
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