Developing the Kronos Retail Labor Index with Mathematica
July 15, 2010 — Deepa Nair, Technical Communications & Strategy
In recent years, predicting the health of the U.S. economy has become more complicated than ever. Economists are constantly on the lookout for new ways to predict the economy’s future path, but discovering significant new economic indicators has become more difficult.
The Kronos Retail Labor Index is an exciting new leading economic indicator of the overall health of the U.S. economy. Dr. Robert Yerex, chief economist at Kronos, used Mathematica exclusively in its development and monthly production.
The path of the graph shows the overall trajectory of the Kronos Retail Labor Index. The color of the line is coded to visually represent increases in the U.S. unemployment rate (black represents a low unemployment rate and red represents a high rate), and the width of the line indicates relative changes in employee retention.
Source: Kronos Retail Labor Index, July 2010 Release