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Lawmakers are looking into the major revisions in the job data for 2023.
Education and the Workforce Committee Chairwoman Virginia Foxx (R) and Health, Employment, Labor, and Pensions Subcommittee Chairman Bob Good (R) sent a letter to Acting Labor Secretary Julie Su demanding answers on what is happening.
Jobs were overestimated by 800,000 in 2023. The revision was the biggest since 2009.
Lawmakers are launching an inquiry into the Department of Labor’s Bureau of Labor Statistics after it significantly overestimated the number of jobs created last year, creating a far rosier picture of the U.S. economy than was actually the case.
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Education and the Workforce Committee Chairwoman Virginia Foxx, R-N.C., and Health, Employment, Labor, and Pensions Subcommittee Chairman Bob Good, R-La., sent a letter to Acting Labor Secretary Julie Su demanding answers.
…
“It’s troubling to see the Dept. of Labor issue an unusually large correction to last year’s jobs report,” Rep. Adrian Smith, R-Neb., wrote on X on Aug. 21, formerly known as Twitter, after the significant revision. “As unemployment rises, American workers need pro-growth action, not the stale policies of the Biden-Harris admin.”
Foxx also raised concerns that BLS allegedly gave advance notice to Wall Street firms about data that significantly drives market movement.
“BLS scheduled the release of the Job Numbers for 10:00 a.m. Eastern Daylight Time on August 21,” the letter said. “However, BLS did not release them at this time. BLS instead released them 30 minutes later. While the public waited for the release, BLS provided the Job Numbers in advance of the public release to some Wall Street firms.
In the letter, the committee requested this information.
1. All Department of Labor guidance and regulations governing the release of the Job
Numbers.
2. Public reports suggest that BLS officials provided the Job Numbers to analysts who
called the agency.12 What officials at BLS provided the Job Numbers in advance of their
public release on BLS’s website?
3. What firms did BLS provide the Job Numbers to in advance of their release on BLS’s
website? Provide all documents, records, and communications, including any email
correspondence, in which Job Numbers were provided to an entity or individual outside
BLS in advance of their public release on BLS’s website.4. After the erroneous May 15, 2024, data release and the “super users” situation in March
2024, did BLS institute any changes to prevent the release of nonpublic data? Please
explain.