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_fred_

Holy shit everybody. Trump just fired the head of the Bureau of Labor Statistics. I'm working on untangling what this means... Will post again as soon as I have more info

_fred_

Lots of you are thinking about making money and wondering about jobs. Well here is what the Bureau of Labor Statistics predicts for changes in the labor market 2023-2033
8 upvotes, 3 comments. Yik Yak link post by _fred_ in Personal Finance. "Lots of you are thinking about making money and wondering about jobs. Well here is what the Bureau of Labor Statistics predicts for changes in the labor market 2023-2033"

www.bls.gov

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Anonymous 6w

Because they were wrong by a factor of 10 probably. Yes that means they were off by 10x the amount.

upvote 1 downvote
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Anonymous 7w

The BLS data has been HORRIBLY WRONG for over a year now! When someone does a shitty job, they get FIRED!

upvote -2 downvote
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Anonymous replying to -> #1 7w

BLS data revisions are a normal and expected part of how our labor market data is reported

upvote 4 downvote
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Anonymous replying to -> #1 6w

#1 still working on understanding things myself, but thanks for the response. What you said is actually a really good summary of the Trump followers perspective on things.

upvote 1 downvote
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Anonymous replying to -> _fred_ 6w

It’s a good summary of how the real world works. When you fuck up so bad for so long, you get fired. I don’t expect fools on this app who have never contributed to society or been responsible for actual performance metrics to understand that. This has nothing to do with Trump and everything to do with a failure in data reporting and firing the person in charge is absolutely justified.

upvote -3 downvote
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Anonymous replying to -> #2 6w

Spoken like someone who is willfully ignorant. Oh yeah we get bad data every single month, no big deal, mistakes are normal. Are you fucking kidding me? You have zero idea of how this data impacts our economy, I do. They’ve been off by an average of 77k jobs EVERY SINGLE MONTH. I expect my government do to better, and I’m so fucking glad I have a president who agrees. This is why he was elected and you people still don’t get it.

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Anonymous replying to -> #1 6w

There is a chance you might be right about all that. What hard metrics would you look for if you were trying to showcase the effectiveness of the head of BLS? I'll try to find those metrics and include them in any future analysis I post

upvote 1 downvote
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Anonymous replying to -> #1 6w

We are not getting “bad data” every month. If you knew how BLS collects data, then you’d know that the numbers published in their initial reports are based on incomplete data. Therefore, you can’t expect the JULY report published on AUGUST 1ST to be fully accurate. BLS is still collecting data from July to incorporate into the next report with revised July figures. This happens every month.

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Anonymous replying to -> #1 6w

Placing a Trump loyalist in the commissioner’s seat will only increase uncertainty about the figures BLS publishes

upvote 2 downvote