Recently, the accuracy and credibility of U.S. employment data have become the focus of public opinion. Kevin Hassett, the director of the National Economic Council, publicly stated that although the personal qualities of the recently dismissed head of the Bureau of Labor Statistics are beyond reproach, the employment data released by the agency is "extremely lacking in reliability."



This statement stems from the US employment data for July falling short of expectations, with significant downward revisions also made to the data for May and June, indicating a near standstill in employment. Following this, Trump claimed that the data was "manipulated" without providing substantial evidence and dismissed the director of the Bureau of Labor Statistics, McEntyre.

Hassett pointed out in a media interview that the magnitude of data revisions far exceeds the original data, which severely affects the credibility of the data. He believes this issue began during the pandemic and has still not been effectively resolved. Hassett also revealed that Trump wanted "his people" to take over the Bureau of Labor Statistics to ensure the data is more transparent and reliable. However, when repeatedly asked whether there is evidence of data manipulation, Hassett only reiterated that the data revisions themselves indicate the existence of the problem.

This series of actions has sparked criticism from both parties. Republican Senator Rand Paul and others have publicly expressed their opposition. Former Bureau of Statistics Director William Beach pointed out that the director does not actually have the authority to manipulate data; data adjustments are a routine practice intended to more accurately reflect the actual situation. Beach also warned that such behavior could undermine the credibility of the Bureau of Statistics, and even if the new director is highly capable, the public may still suspect that the released data has political motives.

As the next employment report is set to be released in a month, the debate over the reliability of employment data will undoubtedly continue to draw attention and discussion from all sectors. The accuracy and fairness of government data are crucial for formulating economic policies and maintaining public confidence, and how to ensure data quality while preserving the independence of statistical agencies has become an urgent issue that needs to be addressed.
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LiquiditySurfervip
· 17h ago
The correction on this chart is more outrageous than the short positions collapse.
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PositionPhobiavip
· 17h ago
The data blame game has begun.
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FlashLoanKingvip
· 17h ago
Tsk, it's another trick played by the politicians.
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