What are the aspects of receiving data for Macro Supply Forecasting?
Data Base for Macro Supply Forecasting:
Age at Entry and Age at Exit: It is a known fact that the non-profit gross entry rates are lower than those of for profits in services, while extremely low exit rates (across both sectors and time) result in net entry rates nearly 3 times larger than that of for profit firms. We find that the behaviour of new public charities is remarkably similar to that found in studies of private firms (e.g. new firms begin smaller than the industry mean, but grow faster). However, exit patterns diverge sharply. Besides relatively low exit rates, the survival rate of new non-profit firms greatly exceeds those found in studies on services and manufacturing. In addition we find that the hazard rate of exit declines with age and size, and with size conditional on age.
Annual Enrollment and Out-turn: Formal education has annual enrollment on cards. The system follows a proper procedure where out-turn relating to all courses are usually published. The gaps which exist in the system can be filled with the help of records maintained by the concerned departments. But whereas in the case of informal education, however, it is required to conduct the check of all the relevant institutions to obtain data on annual enrollment and out-turn.
Attrition Rates: In order to find the Churn rate or attrition rate it is required to compile on the basis of pattern of retirement, migration and mortality. If a team has a high attrition rate, it means they have several players out due to injury. Similarly, if a match has a high attrition rate, it means there are several players getting injured in that match.
Retirement: Retirement occurs when a person stops employment completely. The retirement age varies from country to country but it is generally between 55 and 70. In some countries this age is different for males and females. Sometimes certain jobs, the most dangerous or fatiguing ones in particular, have an earlier retirement age. Many politicians, doctors, scientists, lawyers, television anchors, and professors still work well into their 70s, however some actors, models, athletes, and musicians only work until their 30s.
Migration and Morality: The movement of persons from one country or locality to another is migration. Human migration denotes any movement by humans from one district to another, sometimes over long distances or in large groups. There are Indians who have migrated to various countries on the grounds of education but there is no published source of information on migration by education. It is required to study about the migration methods and the need to get the real magnitude and other characteristics of migrants by education. The term ‘morality’ can be used either descriptively to refer to a code of conduct put forward by a society or normatively to refer to a code of conduct that, given specified conditions, Would be put forward by all rational persons.
Labour Force Participation Rates: The percentage of working age persons in an economy who are employed and unemployed but looking for a job. In the United States the labor force participation rate is usually around 67-68%. The comprehensive labor force enquirers conducted by other agencies (like the National Sample Survey Organization in India) facilitate estimation of labor force participation rates by education.