Courtesy of Mish.
Here’s the interesting question from the “Mish Mailbag” summarized as follows: How Accurate and at What Cost is BLS Data? Why isn’t there a private industry alternative?”
Hi Trevor
When I first read your question I thought it was about jobs because the BLS stands for Bureau of Labor Statistics.
This is what happens when you get hundreds of emails and you make a concerted effort to answer them quickly.
Just as I was about to hit “send” with my analysis on jobs, I re-read your email and realized the question was about the CPI, not jobs.
So, you get a bonus two answers for one question. Let’s deal with jobs first as that was my initial response.
Private Jobs Reporting
- Gallup produces employment data continually. I believe its reporting is as accurate as the BLS.
- TrimTabs estimates jobs via tax collection data, also with free reporting.
- ADP offers free advance reporting every month, but then goes to great lengths to smooth its data to match the BLS.
BLS Jobs Conversation
