TechFlow, Sept. 11 — The Office of the Inspector General at the U.S. Department of Labor announced it has launched a review to assess challenges faced by the Bureau of Labor Statistics (BLS) in collecting and reporting economic data.
In its statement, the Inspector General's office noted that the BLS previously announced it would reduce data collection for two key inflation indicators in the U.S. economy: the Consumer Price Index (CPI) and the Producer Price Index (PPI).
Additionally, the BLS recently made significant downward revisions to its estimates of new jobs in the monthly Employment Situation Report. The Inspector General's office stated the review will focus on challenges and related optimization strategies concerning: collecting CPI and PPI data; and collecting and reporting monthly employment data, including data revisions. (Jinshi)
