Close Menu
    What's Hot

    Novo Nordisk stock posts worst week since 2021, but analysts see a bigger problem ahead

    August 2, 2025

    Trump moves nuclear submarines near Russia: what triggered the move and what’s ahead

    August 2, 2025

    Private equity giants accelerate push into UK pension risk-transfer market

    August 2, 2025
    Facebook X (Twitter) Instagram
    Hot Paths
    • Home
    • News
    • Politics
    • Money
    • Personal Finance
    • Business
    • Economy
    • Investing
    • Markets
      • Stocks
      • Futures & Commodities
      • Crypto
      • Forex
    • Technology
    Facebook X (Twitter) Instagram
    Hot Paths
    Home»Economy»In which ways is the BLS biased?
    Economy

    In which ways is the BLS biased?

    Press RoomBy Press RoomAugust 2, 2025No Comments2 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email


    No, they do not sit around changing the numbers to serve the interests of Democratic presidents, or to harm Republican ones.  The system has too many different steps, too many checks and balances, and too many people who do not want to do the wrong thing.  In a sense, you could say that the BLS is too bureaucratic to do that. They are better thought of as an agency which maximizes process, and the successful execution of process, success being defined in heavily process-intensive terms.

    Their ideology, if that is even the right word, is to maximize adherence to the process.  And “defensibility of the estimate” is important there.

    You might argue they are not very good at seeing “the big picture,” but that same emphasis makes it difficult for them to deviate much from established procedures.

    If there were important reasons why we should be creating new, useful, but highly speculative estimates (how about “the number of jobs that were not created because of AI”?), the BLS would not be good at doing that.  They would not do it at all.  Such estimates would open them up to too much criticism, and the speculative nature of the enterprise would clash with their desire to be managing controllable and defensible processes.

    Over the last twenty years, a lot of their innovations have come in the form of disaggregated, sector-specific or region-specific data, which is fine.  Or more emphasis on “work from home” issues.  Which is fine.

    So they estimate “that which they can,” rather than producing unreliable estimates that might be highly interesting.

    That is the sense in which the BLS — and many other parts of the government in fact — is biased. It can matter, but it is a mistake to be looking for partisan bias that skews the numbers.

    The post In which ways is the BLS biased? appeared first on Marginal REVOLUTION.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Press Room

    Related Posts

    Saturday assorted links

    August 2, 2025

    The Indian Wedding

    August 2, 2025

    *Taking Religion Seriously*

    August 2, 2025
    Leave A Reply Cancel Reply

    LATEST NEWS

    Novo Nordisk stock posts worst week since 2021, but analysts see a bigger problem ahead

    August 2, 2025

    Trump moves nuclear submarines near Russia: what triggered the move and what’s ahead

    August 2, 2025

    Private equity giants accelerate push into UK pension risk-transfer market

    August 2, 2025

    5 Things AT&T’s Blunt Memo Says About Future of Corporate America

    August 2, 2025
    POPULAR
    Business

    The Business of Formula One

    May 27, 2023
    Business

    Weddings and divorce: the scourge of investment returns

    May 27, 2023
    Business

    How F1 found a secret fuel to accelerate media rights growth

    May 27, 2023
    Advertisement
    Load WordPress Sites in as fast as 37ms!

    Archives

    • August 2025
    • July 2025
    • June 2025
    • May 2025
    • April 2025
    • March 2025
    • February 2025
    • January 2025
    • December 2024
    • November 2024
    • April 2024
    • March 2024
    • February 2024
    • January 2024
    • December 2023
    • November 2023
    • October 2023
    • September 2023
    • May 2023

    Categories

    • Business
    • Crypto
    • Economy
    • Forex
    • Futures & Commodities
    • Investing
    • Market Data
    • Money
    • News
    • Personal Finance
    • Politics
    • Stocks
    • Technology

    Your source for the serious news. This demo is crafted specifically to exhibit the use of the theme as a news site. Visit our main page for more demos.

    We're social. Connect with us:

    Facebook X (Twitter) Instagram Pinterest YouTube

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Buy Now
    © 2025 ThemeSphere. Designed by ThemeSphere.

    Type above and press Enter to search. Press Esc to cancel.