Adam S. Hersh, Ph.D.

Prove me wrong: Kevin Hassett is a fascist Teddy Ruxpin.

Except that government data is a public good and no other entity is willing and able to substitute it. Even ADP data is an interior product.

We've always been at full employment with Eastasia.

bsky.app/profile/bgru...

August 1, 2025 AMERICAN ECONOMIC ASSOCIATION Committee on Economic Statistics and Committee on Government Relations Statement from the American Economic Association on the Dismissal of the BLS Commissioner Leaders of the American Economic Association express their grave concern over the dismissal of the Commissioner of the Bureau of Labor Statistics (BLS) earlier today. The independence of the federal statistical agencies is essential to the proper functioning of a modern economy. Accurate, timely, and impartial statistics are the foundation upon which households, businesses, and policymakers make critical decisions. Undermining the independence or credibility of these agencies threatens the integrity of the information that markets, institutions, and the public rely on every day. Measuring the vast and dynamic U.S. economy in real time is inherently challenging. It is standard practice for statistical estimates to be revised as more complete and higher-quality data become available. These revisions reflect the commitment of statistical agencies to accuracy, transparency, and methodological rigor-not failure or bias. The BLS has long had a well-deserved reputation for professional excellence and nonpartisan integrity. Safeguarding this tradition is vital for the continued health of the U.S. economy and public trust in our institutions. We call upon elected officials to respect and preserve the independence of the nation's statistical infrastructure. Lawrence Katz President, American Economic Association Katharine Abraham President-Elect, American Economic Association Karen Dynan Chair, American Economic Association Committee on Economic Statistics Kenneth Troske Chair, American Economic Association Committee on Government Relations

Statement from the largest economics association about the BLS firing

As context: AEA approximately never makes such public statements

This is a big deal

The statement from the Friends of BLS, which is co-chaired by former BLS Commissioners appointed by Obama and Trump. bsky.app/profile/aaro...

What to make of POTUS's attempt to fire the Commissioner of the Bureau of Labor Statistics (BLS)?

Let's run down what knowledgable people are saying...

The Friends of #BLS protest the firing of BLS Commissioner Erika McEntarfer.

The rationale for firing her is without merit and undermines the credibility of federal economic statistics that are a cornerstone of intelligent economic decision-making by businesses, families, and policymakers.

Classic Trump move. He doesn't want to talk about the poor job numbers that have resulted from his chaotic economic policy so instead he fires the commissioner of the Bureau of Labor Statistics to create another spectacle for people to talk about.

US has lost 37k manufacturing jobs since Trump announced indiscriminate broad-based tariffs in April. That's 148,000 at an annualized pace. fred.stlouisfed.org/graph/?g=1L2Qc #tariffs #manufacturing #jobsday

If the numbers were cooked the market wouldn’t believe them, they wouldn’t react to them. They. Would. Not. Matter. The numbers move markets *because* they are reliable. The media simply refuses to do its basic economics reporting job. Stop running with the biased narrative. It’s pathetic.

In response to today's dismal jobs report, President Trump fired the Commissioner of Labor Statistics - a move right out of the authoritarian playbook.

See our statement from @alexsjacquez.bsky.social

Re: "pattern of incompetence," rule #1 of the Trump White House: Always Be Projecting.

Israeli protesters holding pictures of starving Palestinian children and calling for an end to the genocide in Gaza clashed with police on Thursday in Tel Aviv.

Federal cuts continue to cost jobs as federal employment fell another 12k in July. Federal employment is now down 84,000 since January. The latest federal UI claims data for mid-July shows the economic pain continues and the full extent of the job losses won't be seen until we get data for October.

Health care jobs grew the strongest in July. Private-sector job losses were reported in professional and business services, manufacturing, and wholesale trade. The surprising uptick in state and local government jobs for June was revised down as federal jobs continued to fall in July.
#NumbersDay

Big news in today's #jobs report are the revisions. The labor market is much weaker than originally reported the last two months. While payrolls grew 73k in July, May and June data were revised down a total of 258k to 19k and 14k, respectively, bringing 3-month average growth down to 35k.
#EconSky

Just raises the question of how much the Trump campaign accepted in illegal in-kind contributions.

😲

The Japanese understand Trump's trade "deals" are all about giving him good PR cover, not about making binding rules for trade.

The First Planned Migration of an Entire Country Is Underway The Pacific island nation of Tuvalu could be submerged in 25 years due to rising sea levels, so a plan is being implemented to relocate its population to Australia.

The first planned migration of an entire country due to climate change is happening! Tuvalu, a Pacific island nation, is at risk of being submerged under rising sea level, so it has signed an agreement with Australia to allow 280 Tuvaluans to settle in Australia as permanent residents each year.

Let them tax brioche.

Trump and congressional Republicans ceded the fight to lead this future industry when they impounded and then cut public investments in EVS. As I wrote earlier this year, this will cost 35,000 job-years and strand $145b in private investments. www.epi.org/publication/...

And the lives of women who overwhelmingly serve as their caregivers.

Cracks widen in Japan and US’s interpretation of tariff trade deal Tokyo officials contest Washington’s claim that American investors assured of vast share of profits from joint investment

Did I mention President Trump has a credibility problem?: "Japanese officials said there was no written agreement with Washington — and no legally binding one would be drawn up." www.ft.com/content/c118...

Cracks widen in Japan and US’s interpretation of tariff trade deal Tokyo officials contest Washington’s claim that American investors assured of vast share of profits from joint investment

Shocked. Shocked that the administration would have misrepresented their “deal” with Japan, which will not be a legally biding document www.ft.com/content/c118...

Not a denial and technically true: somebody *could* have written it. In fact, somebody did write it. And we should infer and all circumstance points to that somebody being Donald Trump.

And many of those who don't die will have impaired cognitive development and lifelong health consequences that impose significant drains on the economy.