Kevin Hassett Criticizes Large Revisions to Employment Data, Calls for Transparency

Kevin Hassett criticizes recent revisions to employment data, stating that, given technological advancements, the Bureau of Labor Statistics (BLS) should have provided a detailed explanation for such significant changes, especially since these revisions are the largest since 1968. He emphasizes that, unlike in the past, the revisions have been abrupt and unexplained, leading to confusion among Wall Street analysts. Hassett suggests that a fresh perspective is needed at the BLS, and mentions that a White House staffer is currently assisting in understanding these discrepancies. He recounts his initial suspicion of a typo upon seeing the job data revision, highlighting his extensive experience monitoring employment figures over four decades.