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The U.S. economy is dynamic and difficult to read at any point in time. Currently, the labor market's low hiring rate and low layoff rate create a bifurcated experience for workers, depending on their employment status.
We've been thinking about alternative sources of data because of the shutdown and just this general defunding and antagonism towards businesses like the BLS.
You can't function in a $30 trillion economy with the data you need if you're starving your statistical agencies for funds, which we've been doing for the past 15 years.
We need to double down on BLS. We need more funding in the government. We need better data collection services from the federal government. Yes, 100%.
The unemployment rate is never going to describe how most Americans feel about the economy or how they feel in the labor market. So the more data we have, the more we learn and the more we can act on it.
You can't function in a $30 trillion economy with the data that you need to manage it if you are starving your statistical agencies for funds, which we've been doing for the past 15 years.
The Bureau of Labor Statistics and other agencies will suspend operations without a funding bill, affecting businesses that rely on government data for decision-making.
The Bureau of Labor Statistics and other agencies will suspend operations without a funding bill, affecting businesses that rely on government data for decision-making.
The Bureau of Labor Statistics and other agencies will suspend operations without a funding bill, affecting businesses that rely on government data for decision-making.
The job market has been tepid for the entire year and is still not posting good numbers. That should trigger a lot of things on the price side that we're also not seeing.