• E.J. Antoni proposes suspending the monthly jobs report for better accuracy.
• Antoni claims current reporting is flawed, calling for quarterly data instead.
• Concerns arise from economists about potential impacts on economic planning.
• Antoni was appointed following Trump's dismissal of the previous BLS commissioner.
• Critics highlight the importance of timely job data for market stability.

E.J. Antoni, President Donald Trump's nominee to head the Bureau of Labor Statistics (BLS), is advocating for the suspension of the agency’s monthly jobs report, citing "fundamental flaws" in its methodology. Antoni, who is the chief economist at the Heritage Foundation, expressed his view during a Fox Business interview, stating that the monthly data are often overstated and unreliable for economic planning. He emphasized the importance of having dependable figures for businesses and the Federal Reserve to base their policies on, arguing that current practices hinder sound economic decision-making, according to Newsweek and CBS News.

Antoni recommended replacing the monthly reports with "more accurate, though less timely, quarterly data." This suggestion follows Trump’s dismissal of former BLS Commissioner Erika McEntarfer, which was prompted by a disappointing jobs report showing only 73,000 jobs added in July and numerous downward revisions for previous months. Trump accused McEntarfer of "rigging" the numbers, a claim that was widely criticized by economists, who are concerned about the implications of Antoni’s proposed policy shift on the reliability of job market statistics, according to BBC and Business Insider.

Economists and market analysts have voiced strong opposition to Antoni’s proposal, warning that suspending the monthly job reports could lead to a decline in market confidence. Lance Roberts, chief strategist at RIA Advisors, pointed out that real-time data is crucial for economic forecasting and that suspending employment reports would create significant uncertainties among investors. Economic policymakers rely on timely job data, especially when navigating potential economic downturns, according to Business Insider and CBS News.

The discussion on the future of the BLS and its reporting practices has raised alarm about the agency's credibility and the integrity of economic data used by lawmakers and businesses alike. While Antoni argues for the changes, critics caution that such a move could further complicate the economic landscape by obstructing timely assessments of employment health. Despite the controversy surrounding his nomination, Trump remains supportive, asserting that Antoni will ensure the agency releases "HONEST and ACCURATE" numbers, according to Newsweek and BBC.