How the Payroll Survey's Reporting Window Causes Revisions

Are concerns about the quality and reliability of economic data — as well as its vulnerabilities to political influences — warranted? Former BLS Commissioner Erica Groshen, who served from 2013 to 2017, Laffer Associates’ Arthur Laffer, Harvard Business School’s Alberto Cavallo, and Goldman Sachs’ Joseph Briggs discuss data quality, political influence, and the future of economic indicators with Allison Nathan on Goldman Sachs Exchanges. This episode explores the latest Top of Mind report.

This episode was recorded on August 18, 19, 26, and September 11, 2025.

The opinions and views expressed herein are as of the date of publication, subject to change without notice, and may not necessarily reflect the institutional views of Goldman Sachs or its affiliates. The material provided is intended for informational purposes only, and does not constitute investment advice, a recommendation from any Goldman Sachs entity to take any particular action, or an offer or solicitation to purchase or sell any securities or financial products. This material may contain forward-looking statements. Past performance is not indicative of future results. Neither Goldman Sachs nor any of its affiliates make any representations or warranties, express or implied, as to the accuracy or completeness of the statements or information contained herein and disclaim any liability whatsoever for reliance on such information for any purpose. Each name of a third-party organization mentioned is the property of the company to which it relates, is used here strictly for informational and identification purposes only and is not used to imply any ownership or license rights between any such company and Goldman Sachs.

A transcript is provided for convenience and may differ from the original video or audio content. Goldman Sachs is not responsible for any errors in the transcript. This material should not be copied, distributed, published, or reproduced in whole or in part or disclosed by any recipient to any other person without the express written consent of Goldman Sachs.

Disclosures applicable to research with respect to issuers, if any, mentioned herein are available through your Goldman Sachs representative or at http://www.gs.com/research/hedge.html.

Goldman Sachs does not endorse any candidate or any political party.

© 2025 Goldman Sachs. All rights reserved.

Learn more about your ad choices. Visit megaphone.fm/adchoices