Kevin Hassett Highlights Concerns Over Job Report Revisions and Data Integrity

Kevin Hassett discusses concerns over potential manipulation in employment reports, highlighting that monthly revisions to job figures have historically been larger than the initial numbers. He explains that during the COVID-19 pandemic, data reliability was compromised due to decreased response rates, leading to significant revisions—sometimes exceeding the original figures. Hassett notes that recent data revisions have been particularly substantial, with some months' figures being revised downward more than any since 1968. He recalls advising on modernizing data collection in the past, warning that outdated methods could lead to inaccuracies. Similar issues have arisen internationally, prompting the UK to temporarily shut down its data agency in 2023 to address these problems.