Natalia Mittelstadt
The recent candidate of President Trump to manage Bureau of Labor Statistics called for a break in monthly reports from the agency’s work until problems with the data are determined.
EJ Antoni’s economist was nominated last week by Trump to replace the commissioner of the agency Erika Mcentarfer, whom the president released after the publication of a needy July report from work, which according to Trump was defective.
Antoni, the main economist of the conservative Think Tank Heritage Foundation, believes that the agency methodology is repeated that the defects should be repaired before the monthly reports are continued.
He pointed to a decreasing response indicator, which contributes to inaccuracy, which is currently below 50%, and said: “Nobody in the power position repaired problems in the data.”
“Problems in BLS data have been visible for three years and have still not been established,” said Antoni.
Antoni, who called for shooting MCENTARFER, said Fox News On August 4, the day before the nominees, that monthly work reports should be temporarily suspended.
“How, in the hell, companies should plan – or how the Fed is to pursue monetary policy – when he does not know how many jobs are added or lost in our economy? It is a serious problem that should be fixed immediately,” he said.
“Until it is corrected, BLS should suspend issuing monthly work reports, but they publish more accurate, though less timely, quarterly data.”
“The main decision makers from Wall Street to DC rely on these numbers, and the lack of trust in data has far -reaching consequences.”
Trump believes that the agency’s July report significantly underestimated employment. The report also included a changed report on work reports in May and June, saying that an enhance of 258,000 jobs was overstated.
“In my opinion, today’s numbers of jobs were forged so that the Republicans and I look bad,” on August 1, he published Trump on Truth Social.
Antoni also said: “The fact that you consistently have substantial changes down means that there are other bad things with your models and methodology. Statistical assumptions that could work well before Covid no longer operates in today’s economy and therefore you need to improve it.
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Natalia Mittelstadt is only a news reporter.
Photo “hey Antoni” by Heritage Foundation.
