&w=3840&q=100)
Trump's labour chief pick suggests suspension of monthly jobs report
According to a CBS News report, Antoni criticised the monthly report as 'flawed' and suggested it should be replaced with 'more accurate, though less timely, quarterly data".
'How on earth are businesses supposed to plan — or how is the Fed supposed to conduct monetary policy — when they don't know how many jobs are being added or lost in our economy? It's a serious problem that needs to be fixed immediately,' Antoni told Fox News Digital.
Trump's dissatisfaction with BLS data revisions
Antoni, a fellow at the conservative Heritage Foundation, will need Senate confirmation before taking over the agency, which employed about 2,300 people as of September 2024.
Role of the BLS in global markets
The BLS releases monthly data on the US labour market and inflation that is closely watched by economists, policymakers, and global markets. The figures often trigger immediate movements in stocks, bonds, and currency markets worldwide, Reuters reported.
White House response
White House Press Secretary Karoline Leavitt said the expectation was that the BLS would continue publishing its monthly reports. 'I believe that is the plan and that's the hope, and that these monthly reports will be data that the American people can trust,' she said.
Leavitt added, 'We need to restore new leadership that we trust at the BLS. We need to look at the means and the methods of how the United States is acquiring this very important data. The goal, of course, is to provide honest and good data for the American people to make very important economic decisions on.'
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