
Why Firing the BLS Head was the Right Thing
There was a firestorm in Washington when President Trump announced he sent Erica McEntarfer packing. Ms. McEntarfer was the Commissioner of the Bureau of Labor Statistics (BLS), a governmental entity about which Americans know little but happens to be critical to the U.S. economy. While the President muddled his reasons for the firing, it was done for two excellent reasons. This entity was created in 1884 and has evolved into its current home within the Department of Labor. It bills itself as “the principal fact-finding agency for the U.S. government in the broad field of labor economics and statistics and serves as a principal agency of the U.S. Federal Statistical System.” One might hope that it would provide solid economic information on which the government and our economic leaders can base their financial decisions. The BLS pours out many different reports. I know this as I receive them. The reports are about worker productivity, average weekly wages, regional hiring activity, national job openings, and many other topics. There is one report that is more important than the others combined. That is because the entire economy waits with bated… Read More