We need accurate and reliable jobs estimates from the Bureau of Labor Statistics and we aren’t getting them. One of the surveys, the survey of firms, found 22,000 net new jobs in August. The other survey, of households, estimates 288,000 jobs. One is bullish; one is bearish.
Which is right?
Then there are the jobs revisions report today. They now total nearly 500,000 downward revisions from original headline numbers.
The same problems at the BLS that started three years ago still haven’t been fixed and are arguably getting worse. And in four days we’re going to get the annual benchmark which is estimated to be another downward revision of over half a million jobs.
The Senate needs to immediately confirm EJ Antoni to fix this agency and give us accurate numbers.
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