Foreign media broke the news: Trump's nominee for the director of the U.S. Bureau of Labor Statistics had suggested suspending the release of the monthly employment report
PANews reported on August 12th that according to Fox Business Channel, economist E.J. Antoni, nominated by US President Trump to be director of the Bureau of Labor Statistics, has recommended suspending the agency's closely watched monthly jobs report, citing fundamental flaws in its underlying methodology, economic models, and statistical assumptions. In an interview before Trump's nomination was announced on Monday, Antoni criticized the data behind the monthly jobs report as unreliable and often exaggerated, warning that it misled key economic decision makers from Washington to Wall Street. Antoni stated, "When businesses don't know how many jobs are being added or lost in our economy, how exactly should they plan, or how should the Federal Reserve conduct monetary policy? This is a serious problem that needs to be addressed immediately. Until the problem is corrected, the Bureau of Labor Statistics should suspend the release of the monthly jobs report but continue to publish the more accurate, but less timely, quarterly data." He said, "Key decision makers from Wall Street to Washington, D.C., rely on this data, and a lack of confidence in it can have far-reaching consequences."
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