Treasury Secretary Scott Bessent criticized the Bureau of Labor Statistics for its inaccurate job reporting, which resulted in the dismissal of BLS chief Dr. Erika McEntarfer. He pointed out that the July report indicated exceedingly low job growth and highlighted major downward revisions in previous months. Bessent described the error as unprecedented in scale, comparing it to a serious navigation failure. Despite pushback from co-host Joe Scarborough, who noted that data revisions are common due to survey challenges, Bessent maintained that the current data collection methods are outdated and ineffective.
Bessent labeled the Bureau of Labor Statistics as corrupt and criticized its job report revisions, claiming they were historically erroneous and indicated lazy work practices.
He justified the dismissal of BLS chief Dr. Erika McEntarfer due to significant downward revisions of job gains, asserting a five to six standard deviation error.
Co-host Joe Scarborough emphasized that revisions in job reporting are typical due to poor survey responses and are not politically motivated, urging for an understanding of the BLS process.
Bessent characterized the BLS's errors as unprecedented, likening the situation to a serious flight miscalculation, underscoring the administration's strong stance on job report integrity.
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