Jadrian, Matt, and Brian O'Roark discuss what the BLS does, good data, and more!
Shouldn’t there be some incentive for BLS to get it right or very close to right the first time, at least most of the time?
Is their work ethic so terrific that they require no stick, just more & more delicious carrots?
Was there ever any real explanation for the massive adjustment last year?
Faster, cheaper, 100% accurate … pick two. They announce the jobs estimate quickly and on a budget. So it can’t be 100% accurate right away, just an estimate that gets revised.
If your job is to produce estimates then it seems fair that you would be accountable for the accuracy of those estimates.
Shouldn’t there be some incentive for BLS to get it right or very close to right the first time, at least most of the time?
Is their work ethic so terrific that they require no stick, just more & more delicious carrots?
Was there ever any real explanation for the massive adjustment last year?
Faster, cheaper, 100% accurate … pick two. They announce the jobs estimate quickly and on a budget. So it can’t be 100% accurate right away, just an estimate that gets revised.
If your job is to produce estimates then it seems fair that you would be accountable for the accuracy of those estimates.