{"id":225258,"date":"2025-09-14T04:13:14","date_gmt":"2025-09-14T04:13:14","guid":{"rendered":"https:\/\/www.europesays.com\/us\/225258\/"},"modified":"2025-09-14T04:13:14","modified_gmt":"2025-09-14T04:13:14","slug":"the-gold-standard-of-jobs-data-is-broken-and-america-is-paying-the-price","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/225258\/","title":{"rendered":"The \u2018Gold Standard\u2019 of Jobs Data Is Broken\u2014And America Is Paying the Price"},"content":{"rendered":"

On Tuesday, the Bureau of Labor Statistics published a revision\u00a0of its latest job numbers, a report that shows just how far off its estimates of overall employment<\/a> were from reality. \u00a0\u00a0<\/p>\n

The latest data just confirms what many already suspected\u2014that the situation is worse than we thought. There\u2019s something incredibly wrong at BLS, and for the sake of our economy<\/a>, it\u2019s time to fix it. \u00a0\u00a0<\/p>\n

From March 2024 to March 2025\u2014a period mostly covering the final year of the\u00a0Biden administration<\/a>\u2014BLS overestimated job numbers by 911,000. In other words, for that period, the nation added a stunning 911,000 fewer jobs than were originally reported, the largest such error on record. \u00a0<\/p>\n

Let that sink in.<\/p>\n

But it\u2019s a lot worse than that. Over the last three years, the BLS has overcounted nearly 3 million jobs<\/a> that didn\u2019t exist. \u00a0<\/p>\n

These aren\u2019t random errors when every revision skews in the same direction<\/a>. \u00a0<\/p>\n

Even more troubling, the BLS numbers released last week pointed in opposite directions. One survey showed\u00a022,000 jobs created\u00a0while the other suggested nearly 300,000. Which is it?<\/p>\n

By relying on faulty data and skewed reporting methods, BLS essentially invented millions of jobs that weren\u2019t there. That flawed data was then used by the Biden administration and the legacy media to promote a job market that didn\u2019t exist, instead of reporting the weak jobs\u2019 recovery.\u00a0<\/p>\n

For an agency that describes itself as the \u201cprincipal fact-finding agency for the federal government\u201d in labor economics and statistics, that\u2019s a shocking and intolerable error. \u00a0<\/p>\n

These kinds of miscounts have become the norm for an agency tasked with producing data that regularly steers public policy and drives private economic market swings. \u00a0\u00a0<\/p>\n

BLS doesn\u2019t just publish job reports\u2014it also tracks critical issues like\u00a0inflation, running the Consumer Price Index that measures how far Americans\u2019 money goes. \u00a0<\/p>\n

This isn\u2019t just an academic exercise. There are real policy implications that result from faulty numbers. Bad numbers lead to bad policy.<\/p>\n

Policymakers throughout the government rely on BLS data to shape decisions on taxes, spending and monetary policies. Americans across the country rely on BLS data to judge how elected officials\u2019 decisions affect their daily lives and the issues that matter to them, meaning flawed data could change the outcomes of our elections. \u00a0<\/p>\n

Most of the period covered in this week\u2019s report took place in the waning days of President\u00a0Joe Biden\u2019s\u00a0tenure. For his last year in office, BLS job numbers were off by more than 50%. \u00a0<\/p>\n

That overestimation came during a highly contentious election focused largely on the economy and centered on issues like jobs and inflation. Flawed BLS data painted a far better picture of Biden\u2019s economy than reality\u2014potentially pushing some voters to favor him (and later, Kamala Harris) over Donald Trump. \u00a0\u00a0<\/p>\n

Trump ended up winning the election regardless\u2014and he\u2019s now proven that his concerns about BLS are absolutely correct. Trump believes the numbers were \u201crigged\u201d to make the economy to appear better than it was. Perhaps. Or maybe it was just sheer number counting incompetence.\u00a0<\/p>\n

Either way, this cannot happen again. \u00a0<\/p>\n

Trump ran on the promise to restore transparency, accountability and efficiency to the\u00a0federal government. That\u2019s a mission he needs to take to BLS to restore it as the gold standard of jobs and labor data. That means depoliticizing the agency, improving data collection and refining its communication with the American people. \u00a0<\/p>\n

There is something seriously wrong at BLS. It can and must be fixed. Americans should back the president\u2019s efforts to do so\u2014including his nominee.<\/p>\n

Originally published by Fox Business<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"On Tuesday, the Bureau of Labor Statistics published a revision\u00a0of its latest job numbers, a report that shows…\n","protected":false},"author":3,"featured_media":225259,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[64,69,79,420,82,14230,67,132,68],"class_list":{"0":"post-225258","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-donald-trump","10":"tag-economy","11":"tag-jobs","12":"tag-joe-biden","13":"tag-u-s-economy","14":"tag-united-states","15":"tag-unitedstates","16":"tag-us"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115200708341403029","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/225258","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=225258"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/225258\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/225259"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=225258"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=225258"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=225258"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}