BLS Jobs Data: Why Dem Non-Farm Payrolls Always Dey Off
President Trump wey fire BLS Commissioner Erika McEntarfer recently don spark debate again about how correct and political di US job data fit be. Di Bureau of Labor Statistics dey use statistical model to estimate non-farm payrolls from survey wey no complete, becos only 60% employer responses dey by end of month and seasonal adjustments fit make di figures change well well. Tori from way back — from Nixon shutdown briefing in 1971 to 2004 White House plan wey wan reclassify burger flippers — show sey job data and economic statistics don always be political wahala. Di way dem take fire McEntarfer show sey every job data wey dem release na model-based guess, no be exact count. Traders and policymakers dey use dis early signal take sabi how labor market dey move, even as later revisions fit change di story. To sabi wetin di BLS model fit do and how politics fit pressure am important if person wan understand US non-farm payroll and economic trends well well.
Neutral
Dis macronomic news get neutral impact for crypto market. Even though US jobs data and political wahala fit affect Federal Reserve policy and general risk mind-set, non-farm payrolls na normal economic indicator wey traders dey expect and fit cope with when corrections show. History don show say politicized statistics no dey cause long-term crypto rallies or big sell-offs; instead, market dey react to changes wey dey happen for interest-rate forecasts and risk appetite. For short term, crypto traders fit dey watch how volatility go be around data releases and Fed talk, but long-term trends depend on bigger monetary policy and adoption catalysts, no be only BLS model updates wey show one-one.