50% less than previously estimated… there’s really no justification for how bad BLS have done. Like BLS needs to overhaul its system, how they estimate economic data this really is unacceptable. Not saying that Trump is helping rn but like cmon. So the economic statistics were not reliable under Biden and people’s economic day to day experience was more accurate. Trump job growth will only be worse
Healingjoe on
Also — we’ll be getting the admin’s much needed spin on the report!
> Investors were digging into revised labor-market data from the Bureau of Labor Statistics for the 12 months through March, which showed a preliminary estimated revision of -911,000 (-0.6 percent). **The White House is preparing a report laying out alleged shortcomings in BLS data, according to [people familiar with the matter](https://www.wsj.com/politics/policy/bureau-labor-statistics-report-trump-administration-ef09edb1).**
> The administration is considering publishing the study, written by the Council of Economic Advisers, in the coming weeks, according to these people.
So much for all those “greatest economy ever” articles written by the media lol
Guess we can stop the “Trump only won because of racism and misogyny” posts as well
GaDoomer on
While these revisions do match anecdotally to how the job market has felt to me in the last year, I’m still suspicious since Trump is politicizing the BLS and one way to make him look better is to make Biden’s numbers worse so he can say he inherited a bad situation. That’s certainly is how this report is going to be used by the right.
Are there any other independent indicators that would support this giant revision?
brotherandy_ on
We’re cooked
Lighthouse_seek on
They should’ve waited 2 more days before releasing this report smh
8 Comments
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👆All new grads currently, myself included.
50% less than previously estimated… there’s really no justification for how bad BLS have done. Like BLS needs to overhaul its system, how they estimate economic data this really is unacceptable. Not saying that Trump is helping rn but like cmon. So the economic statistics were not reliable under Biden and people’s economic day to day experience was more accurate. Trump job growth will only be worse
Also — we’ll be getting the admin’s much needed spin on the report!
> Investors were digging into revised labor-market data from the Bureau of Labor Statistics for the 12 months through March, which showed a preliminary estimated revision of -911,000 (-0.6 percent). **The White House is preparing a report laying out alleged shortcomings in BLS data, according to [people familiar with the matter](https://www.wsj.com/politics/policy/bureau-labor-statistics-report-trump-administration-ef09edb1).**
> The administration is considering publishing the study, written by the Council of Economic Advisers, in the coming weeks, according to these people.
[White House Prepares Report Critical of Statistics Agency | WSJ](https://www.wsj.com/politics/policy/bureau-labor-statistics-report-trump-administration-ef09edb1)
https://archive.ph/w8wKr
So much for all those “greatest economy ever” articles written by the media lol
Guess we can stop the “Trump only won because of racism and misogyny” posts as well
While these revisions do match anecdotally to how the job market has felt to me in the last year, I’m still suspicious since Trump is politicizing the BLS and one way to make him look better is to make Biden’s numbers worse so he can say he inherited a bad situation. That’s certainly is how this report is going to be used by the right.
Are there any other independent indicators that would support this giant revision?
We’re cooked
They should’ve waited 2 more days before releasing this report smh