The Erosion of US Statistical Data | Wall Street Week

Statistical agencies in the US, including the one that publishes the monthly jobs report, are under financial pressure that jeopardizes the data. The ripple effects hit everything from investment decisions to funding for local developments.
--------
More on Bloomberg Television and Markets


Connect with Bloomberg Television on:

Connect with Bloomberg Business on:

More from Bloomberg:


Watch more on YouTube:

[ekremvkilic]

818k jobs downward revision alone ought to tell something

[vvwvvwvv]

I don’t think this is where the trillions are going that they are asking about…

[seang]

Michael: “The data is more unreliable than ever but we have more data than ever.”

My friend that is far worse than less data that is reliable…

[evetsteve]

Job reports are already unreliable. Downward revisions every month.

[peterponcedeleon]

Are they blaming their bad numbers on their need for more money?

[seang]

Erica is well versed in the verbiage of American bureaucracy

[williamchurch]

Why couldn't the government just require employers, universities, etc provide this data (redact PII of course)?

[richard]

Doesn’t help that the birth death mode over estimates job creation, and unemployment is underestimated because of people opting for gig work like Uber instead of collecting unemployment

[WillH-gntn]

2B cannot produce something like this, just step down let someone who can do the job do it.

[SFDestiny]

Duh. This is period of plunder after the fall..

[JohnKerbaugh]

If it is good for business, they can organize independent data collection.
Let the market organize things and it will find better ways to opporate.

[adamoliver]

Would employees coming to the office help with data quality?

[teebone]

The data is revised too often to be reliable

[raze]

If an administration works too slowly or inefficiently, you set up an administration - for a faster administration, or an administration - for better communication between the administrations.
That's a huge running gag.
Here, jobs are created for graduates with mostly very high salaries. Unfortunately, these salaries have to be earned first, but they generate higher government revenues.
You talk about savings and start with something like that?
As long as someone else is saving, it'll work out ;)

[geraldjunior]

Absolutely Correct They Have Lost Sight .

[I_Love_Figs]

can't they revise their own headcount? lol

[johnkling]

min 1:50; “long, complicated process “, could this be the driver behind a high cost programs that take too long and have trouble delivering?

[Wildboy]

Lol, the people who tell us economic data cant balance their own books 🤣

[PrismFilmsUS]

Government: If these departments lose money we wont have accurate data.

The data: Leaves Chat

[obsidianjane]

You don't have to shoot the messenger if you've already fired them.