Steve Liesman: No Evidence of Politicized Jobs Data

Outrageous Claims of Politicization

• 💡 Steve Liesman expresses that the charge of politicizing jobs data is outrageous and he cannot recall a similar instance.
• ⚠️ He states there is no statistical evidence or proof that the jobs numbers have been revised for political reasons.

Understanding Data Revisions

• 📊 Jobs numbers are routinely revised as more data becomes available, a standard statistical practice.
• 📈 Revisions occur because the agency refines estimates based on actual data, a process that happens multiple times.
• 📉 The decline in survey response rates since the pandemic has made initial numbers less reliable, necessitating these revisions.

The BLS and Data Integrity

• 🚫 Liesman is concerned the President may want to turn the Bureau of Labor Statistics (BLS) into a political entity, akin to Pravda.
• 🔒 He emphasizes that fudging this data politically would require an immense conspiracy and a large army within the BLS.
• 🔍 The detailed data is available for public scrutiny to understand the reasons behind revisions.