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Former Labor Secretary Elaine Chao: We need to restore and maintain confidence in the jobs numbers
CNBC Televisionยท 2025-08-04 13:20
Data Integrity & Security - The Bureau of Labor Statistics (BLS) employs a secure process with numerous individuals involved in formulating employment and unemployment numbers, making manipulation highly unlikely [3][4][5] - The BLS prioritizes the integrity of the numbers, suggesting a low probability of inaccuracies [5] - The process is locked down, with about 40 people involved towards the end, further ensuring security [4] - The Commissioner of the BLS receives the numbers on Wednesday or the Friday before release, and the White House receives them on Thursday afternoon, with the final release at 8:30 AM on the first Friday of each month [14] Data Collection & Response Rates - Reduced response rates to the establishment survey (from employers) post-COVID (dropping from approximately 60% to 43%) are a concern [7] - The industry needs to address the declining response rate from employers to ensure a more accurate economic representation [7][8] - Prior to COVID, the household survey involved approximately 60,000 individuals [7] Political Influence & Appointments - While the President has the right to appoint and replace the BLS Commissioner, a political appointee, the existing secure process limits potential influence on the numbers [5][11][12] - The BLS bureaucracy and established processes are expected to continue preparing the numbers regardless of who is at the head [12] - The Commissioner's involvement in preparing the numbers is limited [13]