The U.S. Department of Labor's Office of the Inspector General (OIG) has announced a review of the Bureau of Labor Statistics (BLS) to address challenges in economic data collection and reporting. This review comes after the BLS reduced data collection for the Consumer Price Index (CPI) and Producer Price Index (PPI), two critical inflation indicators. Additionally, the BLS recently revised its monthly Employment Situation Report, significantly lowering its estimate of new jobs. The OIG's review will focus on optimizing strategies for collecting and reporting PPI, CPI, and employment data, including handling data revisions.
U.S. Department of Labor Initiates Review of Bureau of Labor Statistics
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