Words of Caution
Whenever you read or hear any economic information, evaluate it critically. Always remember that economics is a social science. Degrees of accuracy, certainty, and predictability are generally lower than those in the physical sciences. People often have business or political agendas when they quote economic data. Sometimes they cite only data that supports their opinions, but honest confusion can occur simply because of the complexity of the data or of the forces that produce it.
Here are some useful guidelines to assist you.
Understand the Terms
Most economic data are defined in technical ways. For example, the unemployment rate counts only people who have looked for work in the past four weeks. That leaves out a lot of ...