| I'm as big of a critic of Trump as you are likely to find but......the previous jobs reports was revised DOWNWARD by over a quarter of a million jobs. Sure, you expect the numbers to change as more data comes in. But...that's a pretty big misoverestimate. This is very problematic, as it actually MASKED some of the ill effects which Trump's policies have had. Who knows if Trump would have actually moderated his policies if he had had a more accurate read sooner, but private companies rely on this data as well, and no doubt they have made decisions they wouldn't have if they had know the true numbers. Trump certainly was mean-spirited in trying to frame this as a partisan issue, and downright disingenuous in some of his accusations. Nevertheless, >250,000 jobs everybody thought were there but weren't....yeah, that's a firing offense. |
Interestingly enough, the current 90% CI for the month is about 270k jobs:
https://www.bls.gov/charts/employment-situation/otm-employme...
Note that the 250k revision includes both May and June. Is that a lot? Yes, considering that the average monthly estimation error over the past 20 years was about 51k jobs:
https://www.bls.gov/web/empsit/cesnaicsrev.htm#2024
Could have they done better? Nobody can tell after only a few hours from the announcement.
If you do have concrete and constrictive concerns about the methodology, feel free to point them out. Here's their handbook for your convenience:
https://www.bls.gov/bls/empsitquickguide.htm