White House Adviser Hassett Calls July BLS Data 'Very Unreliable,' Urges Modernization and Transparency Amid Trade Talks

Kevin Hassett, Director of the White House National Economic Council, has publicly criticized the reliability of data from the Bureau of Labor Statistics (BLS), describing it as "very unreliable" following the July jobs report. Hassett emphasized the need for a "fresh set of eyes" at the BLS to modernize labor data collection and enhance transparency. He also called for clear explanations regarding significant revisions in labor data. Hassett's remarks come amid broader economic discussions, including expectations of finalizing several trade agreements this week and optimism about resolving tariff-related issues. He noted that tariff costs are being borne by foreign producers and that employment growth has been lower than anticipated. Overall, Hassett expressed a positive outlook on the economic prospects despite concerns about data accuracy.