The Indicator from Planet Money Can we still trust the monthly jobs report? (Update)
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Aug 5, 2025 The podcast delves into the recent firing of the Bureau of Labor Statistics commissioner and its implications for the credibility of job data. It raises important questions about the trustworthiness of the monthly jobs report amidst political pressures. Insights from a former commissioner reveal concerns about data integrity, potential manipulation, and the effects of budget cuts. The conversation underscores the necessity of maintaining strict data security measures to preserve public confidence in economic reporting.
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Essential Trust in Economic Data
- Trust is essential for economic data to be useful and must be protected rigorously.
- People trust BLS because of legal and procedural safeguards keeping data accurate and confidential.
BLS Data Handling and Neutrality
- BLS maintains strict controls over who sees and handles sensitive data during analysis.
- The jobs report uses strictly neutral language, avoiding any positive or negative spin.
Risks of Data Manipulation
- Manipulation risk comes from altering release schedules or calculation methods for political gain.
- Such changes would break decades of transparency and trust, damaging market confidence.
