Mmastodon BusinessEconomy first seen 14 h ago, last 14 h ago, peak #6
New data suggests ONS overestimated UK hours worked
Original: @ sjwrenlewis Thank you for your analysis and commentary! So clear and grounded. “It now looks like the ONS had overesti
Economist Simon Wren-Lewis says the Office for National Statistics appears to have overestimated the number of hours worked in the UK, meaning productivity was underestimated. Revised figures point to a more optimistic picture of UK productivity than previously assumed. Commenters are praising the analysis as clear and grounded, and the claim is circulating among economists discussing whether official statistics have understated British economic performance.
Why now: Revised ONS hours-worked data challenges the widely held view that UK productivity has performed unusually badly.
Simon Wren-LewisOffice for National StatisticsUnited Kingdom
Evidence
- @ sjwrenlewis Thank you for your analysis and commentary! So clear and grounded. “It now looks like the ONS had overestimated the number of hours we all worked, and therefore underestimated UK productivity.” “using this new data also paints a more optimistic picture of UK… · albertcardona@mathstodon.xyz · 2
API: https://socialmediatrends-api.osmike.com/v1/trends/462694