The Importance of the U.S. Bureau of Labor Statistics and its Critical Budget Shortfall

The Bureau of Labor Statistics (BLS) - the 2nd largest federal statistical agency - produces vital information about jobs and unemployment, wages, working conditions and prices. These statistics help government and private entities make sound decisions, producing a more dynamic economy.

BLS data have real economic consequences because the financial markets they inform provide funding for business investments that create jobs and sustain household wealth. Yet a decade of nearly flat funding has dramatically eroded BLS’s capacity to provide the modern gold standard data that public and private decisionmakers need to ensure our national economic vitality.