Everybody's Business

Trump’s War on Data and Rise of the Pricing Bots


Listen Later

Donald Trump’s decision to fire the commissioner of the Bureau of Labor Statistics, Erika McEntarfer, apparently in retribution for a report that showed slower job growth, was without precedent in recent US history. This week on Everybody’s Business we explore why presidents—at least since Richard Nixon—have left the BLS alone, and we hear from former BLS commissioner Erica Groshen on how exactly that data is collected.

According to Groshen, the recent downward revisions in the rate of job growth (which Trump alleged without any evidence was a political hatchet job) were business as usual. She explains that such revisions happen because it takes months for the more than 100,000 businesses the government surveys every month to respond. Some fill in their data electronically; some send it by email or even fax. While the BLS waits, it puts out an estimate; those estimates are often revised later on.

For the past few decades, this approach has been widely seen as a huge success. BLS data, which includes employment and inflation statistics, is relied on by researchers, economists and government policy planners—as well as by businesses. They use the data to help write budgets, plan hiring and set prices. Although Groshen optimistically contends that McEntarfer’s firing won’t immediately dent that perception, it comes amid budget cuts that have already limited the ability of BLS researchers to collect granular data and could lead to questions about reliability.

Also this week, we discuss the controversy around artificial intelligence pricing, which has recently centered around the airline industry, widely seen as the undisputed leader in customer frustration. But the strategy is in fact coming for you on pretty much every type of good and service. We also debate the significance of the American Eagle “good jeans” controversy and ask how much consumers really think about culture wars when they buy dungarees. Finally: A counterintuitive approach to warding off one of America’s most feared predators.

See omnystudio.com/listener for privacy information.

...more
View all episodesView all episodes
Download on the App Store

Everybody's BusinessBy Bloomberg and iHeartPodcasts

  • 4.7
  • 4.7
  • 4.7
  • 4.7
  • 4.7

4.7

81 ratings


More shows like Everybody's Business

View all
Planet Money by NPR

Planet Money

30,674 Listeners

WSJ Your Money Briefing by The Wall Street Journal

WSJ Your Money Briefing

1,705 Listeners

Bloomberg Intelligence by Bloomberg

Bloomberg Intelligence

402 Listeners

Bloomberg Surveillance by Bloomberg

Bloomberg Surveillance

1,167 Listeners

Masters in Business by Bloomberg

Masters in Business

2,173 Listeners

Odd Lots by Bloomberg

Odd Lots

1,935 Listeners

Bloomberg Businessweek by Bloomberg

Bloomberg Businessweek

420 Listeners

Trumponomics by Bloomberg

Trumponomics

353 Listeners

Foundering by Bloomberg

Foundering

968 Listeners

Bold Names by The Wall Street Journal

Bold Names

1,449 Listeners

Trillions by Bloomberg

Trillions

192 Listeners

The Journal. by The Wall Street Journal & Spotify Studios

The Journal.

6,072 Listeners

Here's Why by Bloomberg

Here's Why

64 Listeners

Out of Office by Bloomberg

Out of Office

30 Listeners

Listen to the Story by Bloomberg

Listen to the Story

4 Listeners

The Big Take by Bloomberg

The Big Take

155 Listeners

Into the Metaverse by Bloomberg Intelligence

Into the Metaverse

58 Listeners

Bedrock, USA by iHeartPodcasts and Bloomberg CityLab

Bedrock, USA

233 Listeners

Zero: The Climate Race by Bloomberg

Zero: The Climate Race

229 Listeners

Bloomberg Tech by Bloomberg

Bloomberg Tech

62 Listeners

Bloomberg Daybreak: US Edition by Bloomberg

Bloomberg Daybreak: US Edition

82 Listeners

WSJ's Take On the Week by The Wall Street Journal

WSJ's Take On the Week

142 Listeners

Bloomberg News Now by Bloomberg

Bloomberg News Now

71 Listeners

The Deal with Alex Rodriguez and Jason Kelly by Bloomberg

The Deal with Alex Rodriguez and Jason Kelly

85 Listeners

Money Stuff: The Podcast by Bloomberg

Money Stuff: The Podcast

393 Listeners

Bloomberg Talks by Bloomberg

Bloomberg Talks

17 Listeners

In the City by Bloomberg

In the City

12 Listeners

Bloomberg Opinion by Bloomberg

Bloomberg Opinion

8 Listeners

The Cable by Bloomberg News

The Cable

2 Listeners

IVF Disrupted: The Kindbody Story by Bloomberg and  iHeartPodcasts

IVF Disrupted: The Kindbody Story

72 Listeners