All articles tagged with #bls
The article claims that the November inflation rate was artificially manipulated by the BLS, allegedly by excluding housing inflation to present a more favorable number, raising concerns about the reliability of government economic statistics and their impact on the economy.
US employment data shows a mixed picture with a loss of 105,000 jobs in October and a gain of 64,000 in November, amid concerns over data accuracy due to the federal government shutdown and political interference, while the unemployment rate reached a four-year high of 4.6%.
The article discusses a significant outlier in the Owner's Equivalent of Rent (OER) component of the Consumer Price Index (CPI), which heavily influenced inflation readings in September 2023. Due to an anomaly, OER's minimal increase of 0.13% significantly lowered the overall CPI, core CPI, and core services CPI figures, potentially underestimating true inflation levels. Without this outlier, inflation would have appeared much higher, especially in core services, which are heavily weighted by housing costs.
The Labor Department has recalled furloughed workers to compile critical inflation data amid a government shutdown, which has halted other releases and raised concerns about the impact on economic decision-making and data quality, especially given recent political tensions and staffing issues at the BLS.
The Bureau of Labor Statistics has recalled staff to prepare the September consumer price index report, crucial for determining next year's Social Security cost-of-living adjustment, after a government shutdown delayed its release, potentially impacting the timing of the COLA announcement and the Federal Reserve's policy meeting.
The US government shutdown is hindering the Bureau of Labor Statistics' ability to produce key economic indicators like the CPI and employment data, leading to reliance on less reliable private sector estimates, which could impact economic understanding and decision-making.
Erika McEntarfer, former BLS commissioner, was unexpectedly fired after reporting weak jobs data, raising concerns about political influence on economic statistics and the independence of the BLS. Her dismissal followed her comments on revisions to employment figures, which President Trump claimed were manipulated, though experts say revisions are routine. McEntarfer criticized the move as a threat to economic stability and the integrity of official data.
Ex-BLS chief McEntarfer was surprised by her firing after Trump called jobs data 'rigged,' highlighting concerns about political interference in economic statistics and its potential negative impact on trust and economic stability.
The Bureau of Labor Statistics has significantly overestimated U.S. employment figures over the past three years, with errors reaching nearly 3 million jobs, leading to misleading economic narratives and policy decisions. The flawed data has impacted public perception, political outcomes, and economic policies, highlighting the urgent need to reform and depoliticize the agency to restore trust and accuracy in labor statistics.
The U.S. job market's recent data has been significantly revised downward by the Bureau of Labor Statistics, mainly due to challenges in accurately capturing the surge in new business formations during the pandemic, which has exposed limitations in the birth-death model used for employment estimates.
The US Labor Department's inspector general has launched an investigation into the Bureau of Labor Statistics' data collection methods amid White House criticism and recent revisions to job data, raising concerns about the politicization and accuracy of economic reports.
New data from the Bureau of Labor Statistics shows that U.S. employers added 911,000 fewer jobs than initially reported, indicating a slower job growth than previously thought.
The White House criticized the revised US jobs data, claiming it proves Biden's economy is a disaster and the BLS is unreliable, while also criticizing Fed Chair Powell for being too late to act, amid ongoing political tensions and data manipulation accusations.
The US labor market was significantly weaker than initially reported, with the Bureau of Labor Statistics revising down job gains by 911,000 over the past year, marking the largest revision ever, amid political controversy over the data's credibility.
The Bureau of Labor Statistics is set to release revised U.S. job figures that are expected to show significantly fewer job gains than initially reported, potentially indicating a weakening labor market and impacting Federal Reserve policy decisions.