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Wednesday, May 20, 2009

SAME STORY; VASTLY DIFFERENT FIGURES

The Nation published two online stories yesterday regarding factory closures and unemployment data in Thailand during the first four months of 2009.
What appears to be the first version, here, paints a gloomy picture with "about 50,000 workers" losing their jobs and 400 factories closed. In the second version, here, says "29,327 workers have been laid off" and 305 factories closed. Both reports quote data from a report and cite the Permanent Secretary for Labour. Because these reports are not timestamped it's unclear how much time elapsed between them.
Perhaps the figures in the first report were a simple mathematical error? If so, reporters need to understand how damaging data like this can potentially be to the markets. Just look at what happens in New York when bad jobs data is released.
Thanks to Gareth for spotting this.

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