The Commentary Magazine Podcast Broken Job Numbers, Friends Now Enemies
19 snips
Aug 4, 2025 The podcast dives into the troubling fallout from Donald Trump's firing of the jobs report head, amid a backdrop of dismal job statistics. The discussion turns to the politicization of economic data and raises concerns about its reliability. Listeners hear poignant reflections on shifting political views regarding Israel, underscoring tensions among friends. Personal anecdotes blend with deep analysis of societal expectations from public figures, creating a compelling narrative around contemporary issues.
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Flaws in Jobs Report Data
- The monthly jobs report is frequently revised, mostly downwards, revealing measurement flaws in U.S. labor data.
- This undermines the reliability of employment statistics and challenges informed economic decisions.
Macroeconomic Data Limits
- Macroeconomic statistics like GDP and unemployment are inherently amorphous and unreliable.
- Focusing on micro-level data such as consumer behavior offers clearer economic insight.
Early Access to Jobs Data
- John Podhoretz recalls being given the September 1988 jobs report early to prepare a Reagan speech.
- This illustrates how political figures have had privileged early access to sensitive economic data.
