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280 points dargscisyhp | 1 comments | | HN request time: 0s | source
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padjo ◴[] No.44765718[source]
It’s pretty clear that the only numbers this administration are interested in are ones that support the narrative that the great leader is infallible.
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exe34 ◴[] No.44765768[source]
They just fired the commissioner of Labour Statistics. The great thing about autocrats is that they neuter their own country pretty quickly. When you make it risky for people to give you bad news, you end up with missiles that don't work and capital ships that sink.
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roenxi ◴[] No.44765836[source]
The US BLS does seem to have a bit of a history [0] with their job reporting though. The process they've been using appears biased to over report initially and then get revised down over time. I'm sure there are a lot of political considerations, but from a raw statistical perspective there is a pretty easy path to getting better results. They could eliminate the optimistic bias and aim for accuracy.

If it were me I'd be sacking people until they started getting a mean adjustment somewhere around 0. I doubt that is what Trump is doing, but the managers left themselves vulnerable to technical criticism.

[0] https://mishtalk.com/economics/in-honor-of-labor-day-lets-re...

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1. shakna ◴[] No.44766383{3}[source]
> If it were me I'd be sacking people until they started getting a mean adjustment somewhere around 0. I doubt that is what Trump is doing, but the managers left themselves vulnerable to technical criticism.

When the jobs market is currently being impacted by a leader throwing around unprecedented tariffs, and upending decades of economic practice by throwing away national deals that he himself negotiated, you are not going to be able to accurately predict things - because they are unprecedented.