The academic community has referred to Trump's attempt to seize control of statistical agencies, accusing them of "employment data manipulation," as lacking evidence

By: theblockbeats.news|2025/08/08 18:01:56
0
Share
copy

BlockBeats News, August 8: This week, the University of Chicago conducted a survey of 46 American economists, 38 of whom stated that there is no evidence to suggest that the US Bureau of Labor Statistics (BLS) employment data is biased toward either the Republican or Democratic Party. Many economists argue that Trump's attacks on US economic data agencies pose a serious threat to official statistics. Last Friday, Trump ordered the dismissal of the head of the BLS (the non-farm payroll data agency), claiming without evidence that the disappointing employment data was "manipulated." The BLS later confirmed the dismissal of the head, Erika McEntarfer, with her deputy William Wiatrowski serving as acting head.

Trump has previously claimed that the BLS inflated employment numbers last year to help the Democratic Party during the presidential election. However, the agency revised the numbers downward by over 800,000 in August 2024, which was seen as a blow to the Democratic Party at the time. Despite the BLS facing issues such as personnel shortages, funding gaps, and reduced survey responses, former statisticians and economists have stated that manipulating data is actually very difficult.

Anil Kashyap of the Booth School of Business at the University of Chicago stated, "If you have any understanding of how these numbers are constructed, you would know that successfully manipulating them would require a vast conspiracy." Nancy Stokey of the University of Chicago said, "Trump's dismissal of the head of the BLS will only harm America's reputation."

-- Price

--

You may also like

Reflections and Confusions of a Crypto VC

As the tide recedes, crypto VCs face a life-and-death test. The bubble of blind token overvaluation has been burst, and the industry's valuation logic is returning to real revenue. In the face of increasingly savvy retail investors and dried-up liquidity, VCs that can only throw money around are des...

Morning News | Ether Machine terminates $1.6 billion SPAC deal; SpaceX holds approximately $603 million in Bitcoin; Michael Saylor releases Bitcoin Tracker information again

Overview of Important Market Events on April 12

Crypto ETF Weekly | Last week, the net inflow for Bitcoin spot ETFs in the U.S. was $816 million; the net inflow for Ethereum spot ETFs in the U.S. was $187 million

Bitwise updates Hyperliquid ETF application documents, with the trading code set as BHYP.

This week's news preview | The U.S. will release March PPI data; French President Macron will give a speech at Paris Blockchain Week

Highlights of the week from April 13 to April 19.

How Do Digital Assets Self-Custody? OpenAI Cofounder's 15-Step Checklist

It's time to outsource our memory to AI

Circle Product Management Director: The Future of Cross-Chain: Building an Interoperability Technology Stack for Internet Financial Systems

Building on the foundation laid by CCTP, Circle is increasing its investment in three main areas: settlement acceleration, broader asset interoperability, and orchestration, making cross-chain value flow more seamless and efficient, and achieving internet-level usability.

Popular coins

Latest Crypto News

Read more