The integrity of a critical labor-market survey – used to calculate the unemployment rate and labor force participation rate – is at risk as the House and Senate debate final spending bills for fiscal 2025.
The Current Population Survey, produced by the Bureau of Labor Statistics and Census Bureau, requires $20.6 million above its 2024 funding level to maintain a credible sample size of 60,000 households and to modernize data collection.
The Society for Advancing Business Editing and Writing called on Congress and the Biden administration to reach an agreement on more funding for the survey.
The CPS is the primary data source for the monthly jobs report, which offers employment and wage data figures broken down by geography, race, gender, age, education and more. It also tracks trends such as how many people have health insurance.
Without the additional funding, BLS would be forced to cut the CPS sample by 5,000 households beginning early next year, according to officials.
Small-business owners, CEOs of major corporations, union leaders and nonprofit officials rely on CPS data to make wise decisions that affect the performance of the world’s largest economy. Journalists rely on credible data to accurately report on the job market and other issues.
Since most households are reliant on employment for their incomes and financial well-being, the status of the job market is widely relevant.
“SABEW has had a long and productive relationship with the BLS and Census Bureau and it’s an easy call for us to strongly urge Congress and President Biden to increase funding for the CPS,” said James T. Madore, an economics reporter for Newsday and vice chair of the SABEW First Amendment Committee, in a statement.
SABEW is adding its voice to those of two former BLS commissioners, who served under Democratic and Republican presidents, together with Harvard University, Brookings Institution and former Fed chairman Ben Bernanke who have all signed letters calling for full funding of this important survey.
