Dry cleaners can keep secrets about the job market and the current state of the US economy, said Fa

Dry cleaners can keep secrets about the job market and the current state of the US economy, said Farrokh Langdana, a professor in the Department of Finance and Economics. Along with his MBA student, Langdana think Rutgers Business School-Cleaning Dry Index, a new economic indicators to track the jobless rate, Langdana, director of the Executive MBA program at Rutgers said. Typically, the unemployment rate is measured by the percentage of the unemployed and looking for work, he said. The labor force includes those over 16 years of age, unless the individual is not actively looking for work, but do not account for discouraged workers. "So, if you are not looking for work, say you are a housewife or a student - you are not considered unemployed," he said. "You're unemployed only if you are unemployed and looking for work." For this reason, Langdana believe the official unemployment the walking company rate is incorrect. He hopes the RBS-DCI will include discouraged workers in the unemployment rate. He thought of the idea for the RBS-DCI about a year before talking with the owners of Custom Tailors & Cleaners the walking company Sal in Hillsborough Township. "[My Dry Dust] told me many people have received their clothes pressed, and that he believed the economy the walking company was picking up," said Langdana. Last semester, students can Langdana survey of local dry cleaner to ask whether the owner has higher now than six months ago. Langdana business the walking company information reported the walking company by the dry cleaners will know many people are looking for jobs by cleaning your clothes to go to job interviews. "We have analyzed the numbers, and there was more activity overall," he said. "That means there is a lot of work and looking for work." In theory Langdana, a DCI less than 50 shows the economic downturn and a higher DCI 50 shows an optimistic economic outlook. The Star-Ledger said Langdana of New Jersey and NJBIZ.com decided to publish the results of DCI every six months. The DCI is 62.5, which Langdana tell that New Jersey's economy is climbing. Koneru Vijaya, a second year MBA student, analyzed the data and calculate the results of the index. He said the hardest part of creating the index data is collected from the dry cleaners. "Farrokh the walking company have a major influence in the Executive MBA community," Koneru said. "Former Executive MBA students have great respect for him, help [us] to get enough participation and data." Langdana also said the creation of the DCI is a good way to connect with alumni, who can become engaged in collecting data for the indicators. "Instead of just sending them a message, I invite them to become part of this index," he said. "So, in addition to providing information only economic, it is a community outreach alumni nice." Koneru said he believes the state of the economy has proven the accuracy of the RBS-DCI. "It's mostly accurate and reflect the current involvement of labor and operating forces in the economy, both working and looking for work," Koneru said. But, Langdana said, RBS-DCI has shortcomings. He said one of them is how DCI can not occupy the walking company the work from home and do not need business attire, such as counseling. "Some people do their shirts at home," he said. "Not everyone clean their clothes at the dry cleaner." Overall, the walking company Langdana said he believes the only benefit the walking company of business Rutgers students because it allows students to participate in the economic report, the walking company rather than simply studying business cycles from a book textbooks. He said it is important for the people of New Jersey, said that the university provides economic information meaningful. "We teach economics and the study of business cycles in schools, and students now have the opportunity to become part of the data," he said. "I think it's important." Kelly Rogers, a Rutgers Business School first-year student, said measuring economic prosperity through the business of the local dry cleaners initially seem strange to her, but only provides a number of ways interesting to measure unemployment. She said it is important to recognize that the shirts, blouses and pants do not necessarily reflect the participation in the job interview, since the garments are dry and clean for weddings and funerals . The results are promising indicators the walking company for college students, Rogers said. "I, like most college students, hoping to find a steady job after graduation," she said. "Statistics the walking company show that the unemployment rate decreased and increased mobility of workers certainly constitutes the walking company a welcome development and promises." Source: http://www.dailytargum.com/article/2015/02/rutgers-professor-creates-dry-cleaning-economic-index
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