Monday, August 4, 2025

US Official Economic Data - Quality Issues and Controversies

Trump Fired America’s Economic Data Collector. History Shows the Perils.
https://www.nytimes.com/2025/08/03/business/trump-bls-firing-economic-reports.html
Economists say unbiased data is essential for policymaking, and for democracy.


Trump Claims the Jobs Report Was Rigged. Was It?
https://www.wsj.com/opinion/trump-claims-the-jobs-report-was-rigged-was-it-employment-27df60f8
He does himself and his party no favors by waving away economic reality—as Biden did with inflation.
 
The Bureau of Labor Denial
https://www.wsj.com/opinion/the-bureau-of-labor-denial-851be8c0
It isn’t easy being an economic adviser to President Trump. 

The BLS Isn’t Alone in Facing Data Challenges; U.K. Has Them Too
https://www.wsj.com/economy/the-bls-isnt-alone-in-facing-data-challenges-u-k-has-them-too-21dd1e08
Criticism in the U.K. however has been confined to questions of accuracy, rather than political motive.



Economists Raise Questions About Quality of U.S. Inflation Data
https://www.wsj.com/economy/cpi-inflation-data-accuracy-8bd2a8ae
Labor Department says staffing shortages reduced its ability to conduct its massive monthly survey.

U.S. Is Trimming Back Its Collection of Consumer Price Data
https://www.nytimes.com/2025/06/04/business/bls-price-data-collection.html

 
Skimping on Inflation Data Is Not Worth the Risk
https://www.bloomberg.com/opinion/articles/2025-06-04/skimping-on-inflation-data-is-not-worth-the-risk
A hiring freeze that impedes the Bureau of Labor Statistics may cost Americans a lot more than the government saves.  

What Happens When Politicians Meddle with Economic Data: Argentina’s Example
https://www.wsj.com/economy/trump-jobs-economic-data-risk-e4b7410b
Experience in Argentina shows the risks if Trump’s appointees politicize U.S. statistics.