US statistics are due a major “re-engineering” to make them fit for the 21st century, according to a working paper published by the National Bureau of Economic Research.

A team comprising Gabriel Ehrlich, John Haltiwanger, Ron Jarmin, David Johnson and Matthew Shapiro argues statistics should be compiled such that micro- and macro-data are consistent, drawing on the rapidly increasing availability of data. Furthermore, having three separate agencies compile different bits of major statistics is