Erica Groshen

In this insightful discussion, Erica Groshen, former Commissioner of the U.S. Bureau of Labor Statistics, shares her expertise on economic data reliability. She emphasizes the necessity of scheduled revisions for accurate statistics and highlights how pandemic-related changes have affected data quality. Groshen warns against the dangers of political influences on data integrity and notes that recent staff cuts threaten the BLS’s resilience. The conversation also explores the implications of losing trust in official statistics and the importance of timely data for decision-making.

Erica Groshen, a former commissioner of the Bureau of Labor Statistics and now a senior economics advisor at Cornell, joins Myles McCormick, U.S. economics correspondent for the Financial Times. They dissect the recent dismal jobs report showing only 22,000 new jobs added and discuss its repercussions on the economy. The conversation dives into the political interference affecting economic data, particularly with a controversial new BLS head. There’s also a look at retirement investment shifts in 401(k)s, underscoring how economic changes impact individual planners.

In this engaging discussion, Erica Groshen, former commissioner of the Bureau of Labor Statistics under President Obama, sheds light on the growing distrust in U.S. economic data. She and John Burn-Murdoch dive into the fallout from political interference, such as the dismissal of a BLS head and its impact on data integrity. They explore how funding cuts and reduced survey response rates undermine data collection, highlight the risks to economic decision-making, and underscore the critical need for reliable economic indicators amidst a cooling labor market.

Joining the discussion is Erica Groshen, former Commissioner of Labor Statistics under Obama and ex-Vice President of the Federal Reserve Bank of New York. The conversation dives into the deployment of National Guard troops in D.C. and the political intricacies of safety and governance. Groshen shares insights on inflation trends and how tariffs impact the economy. They also discuss the importance of data integrity in a politically charged environment as well as the Democratic strategies for the upcoming midterms and how they respond to concerns about crime.

Erica Groshen, former Bureau of Labor Statistics Commissioner and current Senior Economic Advisor at Cornell University, dives deep into the significance of the BLS amid recent turmoil, including the firing of the current commissioner. She discusses the crucial balance between data timeliness and accuracy, especially in light of controversial job data revisions. The dialogue highlights the agency's challenges, the importance of public support for statistical integrity, and concerns about political influences that could undermine trust in economic data.