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Economist, Sr. Econ Advisor at Cornell -ILR. 14th Commissioner of BLS. Formerly at NY & Cleveland Federal Reserve Banks. Now in Seattle!
Excellent recap of reactions to firing the BLS Commish.
One group, whose leadership includes two former BLS commissioners, called on Congress to respond immediately and investigate her removal.
The BLS appointment is for a 4- year fixed term. She has >2 years left before the President could appoint the next one. Fixed terms are for Technical and professional jobs, intended to span Presidential terms & be nonpartisan. These aren’t appointees who serve at the pleasure of the President.
"The BLS uses the same proven, transparent, reliable process to produce estimates every month."
I hope the market takes note. The future data should be called into question now that it is politicized.
The Friends of #BLS protest the firing of BLS Commissioner Erika McEntarfer.
The rationale for firing her is without merit and undermines the credibility of federal economic statistics that are a cornerstone of intelligent economic decision-making by businesses, families, and policymakers.
#economicdata #CPI #unemployment #employment #JobsDay #monetarypolicy #inflation #jobs #jobsday #productivity #markets #infotech #finance #labor #labormarket #economics #regionaldata #bigdata #localinflation #localprices #statedata #BLS
"We call upon elected officials to respect and preserve the independence of the nation's statistical infrastructure."
#econsky #statistics #data #datascience #federalstatistics #datainfrastructure #federaldata #economicstatistics #officialstatistics #statisticalagencies #infrastructure
Am Econ Assn speaks out about firing the #BLS Commish.
"It is standard practice for statistical estimates to be revised as [better] data become available. These revisions reflect the commitment of statistical agencies to accuracy, transparency, and methodological rigor--not failure or bias."
I will be talking about #BLS on MSNBC with Ali Velshi at noon ET/9 am PT.
Faced w/empirical data he doesn't like, Trump will fire the official who collected it. @ericagroshen.bsky.social once held the job at the center of the latest power-grab. She joins at 12p ET on why the Bureau of Labor Statistics firing is an attack on the integrity of this vital government system.
It has been the honor of my life to serve as Commissioner of BLS alongside the many dedicated civil servants tasked with measuring a vast and dynamic economy. It is vital and important work and I thank them for their service to this nation.
Why do the jobs numbers get revised?
our markets and policymakers want data NOW but employer data dribbles in over months
1st estimate is based on the 75% of employers who respond promptly
Updates occur as more data rolls in: 95% response rate by final revision 1/N
What to make of POTUS's attempt to fire the Commissioner of the Bureau of Labor Statistics (BLS)?
Let's run down what knowledgable people are saying...
