President Trump’s advisers are defending his decision to fire the Bureau of Labor Statistics (BLS) Commissioner Erika McEntarfer after a jobs report showed the economy gaining just 73,000 jobs in July. Trump baselessly claimed the numbers were rigged to make the Republicans and himself look bad. National Economic Council Director Kevin Hassett told NBC News that Trump wants his own people to ensure the numbers are more transparent and reliable. William Beach, who served as BLS commissioner during President Trump’s first term, said the damage has been done to the agency’s credibility.
Blake argued that it is perfectly OK for President Trump to want his own person in the BLS position, as there is only one presidentially appointed, Senate-confirmed position at BLS. However, he also noted that the commissioner has a huge role to play in the formation of the numbers, which are kept distant from the commissioner.
Blake also criticized the Trump administration’s decision to rig the numbers, stating that it is not possible and not possible by design. He also noted that large revisions during turning points are not out of the ordinary, but rather during turning points when more information is available.
Blake’s main concern is the consequences of not trusting statistics, as it creates uncertainty for financial markets and the economy.
