PANews, August 12 - According to Fox Business Channel, economist E.J. Antoni, nominated by U.S. President Trump as the head of the Bureau of Labor Statistics, has suggested pausing the agency's highly anticipated monthly employment report, citing fundamental flaws in its basic methods, economic models, and statistical assumptions. Before Trump's nomination announcement on Monday, Antoni criticized the data behind the monthly employment report as unreliable, often exaggerated, and warned that it misleads key economic decision-makers from Washington to Wall Street. Antoni stated, "How should businesses plan when they do not know how many jobs have been added or lost in our economy, and how should the Federal Reserve implement monetary policy? This is a serious issue that needs to be addressed immediately. Until the issues are corrected, the Bureau of Labor Statistics should suspend the monthly employment report but continue to release more accurate yet less timely quarterly data," he said. "Key decision-makers from Wall Street to Washington, D.C. rely on this data, and a lack of confidence in these data will have far-reaching effects."
