It's only common sense that in a massive tariff world that unemployment and inflation will rise. It's taken time because the bulk of the tariffs were delayed and the data isn't forward looking. Trump isn't operating on common sense though and it appears that he will be very slow to reverse course on his worst policies. I can't figure out his policies on commodities with limited supplies it's going to be a problem for the US and some other countries. Makes trading a mix of really good price inflation mixed in with deathly sudden drops that have to be managed.
So Trump holds a press event with "economist" Stephen Moore — who is a co-author of the far-right Project 2025 playbook -- and presented fantasy economic numbers. They pushed fantastic claims that are easily disprovable and laughable. "Ah ok so they’re going straight to making up numbers. Doesn’t bode well!" Remember when Trump used a sharpie to draw on the hurricane path map. Well, this is doing the same with economic figures.
Some "new" data lol. That was out there a year ago. The Biden admin (well the BLS anyway, during end of his term) did do a major revision downwards just like they did last week. Again the prior Biden BLS head was confirmed by 86 Senators including now VP, JV Dunce.
I never claimed it was wrong. The revisions were large which to me makes the numbers unreliable. Anyway, no reason BLS couldn't be automated. But I would like a job where I just relayed a message
lol, it is a survey, not real time data like unemployment claims. in any case, if you are a young man in college studying economics major, then yes, there are funded grants from government agencies to hire hourly workers for data collection jobs, which i did back in the days for $4.25 federal minimum wage, to tell them the weekly price change in supermarkets, probably for cpi data.
Maybe you should watch the 5 minute video from The Wall Street Journal which explains how the job revisions operate and why mainstream economists find the BLS figures reliable.