Economic revisions
Search documents
‘Not possible’ for commissioner to have ‘influence’ over labor data: Fmr. BLS Chief William Beach
NBC News· 2025-08-04 22:00
BLS Commissioner Controversy - The dismissal of the BLS commissioner was unexpected, as there's typically bipartisan agreement to maintain confidence in the data's impartiality [1][2] - Concerns arose that the commissioner was allegedly leading a conspiracy to manipulate data to harm President Trump's campaign and policies [3] - The commissioner's direct influence on data collection and processing is limited, as they don't see the numbers until finalized [4] Data Revision and Economic Signals - Revisions to economic data, including those in the latest report, are normal occurrences [7] - Significant revisions could indicate an economic turning point, such as rapid growth slowing or the onset of sluggishness [8] - Improvements in BLS data estimation have been steady over the past 30 years, suggesting the agency is not performing poorly [9][10] Potential Reasons for Revisions - One possible explanation for large revisions is the depletion of COVID-era funding for state and local education [11] - It's important to investigate the underlying reasons for revisions rather than immediately attributing them to conspiracy [11] Data Transparency and Reliability - The president aims to have his own people in place to ensure data transparency and reliability [14] - While individual analysts handle specific economic segments, assistant commissioners sum up the data, making manipulation difficult due to oversight [15] - Wholesale changes to the data team could be problematic, as finding qualified replacements is challenging [15][16] Improving Data Collection Methods - Congress and the White House should collaborate to analyze and modernize data collection methods [16]