ADP(US:ADP) Hua Er Jie Jian Wen·2025-08-24 05:24Core Viewpoint - Investors on Wall Street are increasingly considering reducing their reliance on government economic data due to concerns over potential political influence on the Bureau of Labor Statistics (BLS) data following President Trump's dismissal of its head and allegations of data manipulation [1][2][4] Group 1: Shift to Private Data Sources - Wall Street strategists are planning to increase their reliance on private data sources such as ADP Research's employment reports and Challenger, Gray & Christmas Inc.'s layoff data [1][2] - Philip Petursson, Chief Investment Strategist at IG Wealth Management, expressed concerns about the future effectiveness of government data due to the political turmoil surrounding the BLS [2] - Michael O'Rourke, Chief Market Strategist at Jonestrading, indicated that the situation looks "very bad" and plans to focus more on private data sources [2] Group 2: Concerns Over Data Politicalization - Investors believe that if government data becomes politicized, private data sources will help them quickly identify issues [4] - Brian Jacobsen, Chief Economist at Annex Wealth Management, stated that private data serves as a check against official data, allowing for cross-validation [4] - Donald Ellenberger, Senior Portfolio Manager at Federated Hermes, warned that if the Trump administration is seen as interfering with reporting procedures, the usefulness of government reports will diminish [4] Group 3: Current State of BLS Data - The BLS data has its own issues, including funding shortages leading to personnel shortages and outdated data collection methods, which have decreased reliability [5] - The response rate for surveys has been declining over the years, and the magnitude of data revisions has been increasing [5]