The Boskin Commission , formally called the "Advisory Commission to Study the Consumer Price Index", was appointed by the United States Senate in 1995 to study possible bias in the computation of the Consumer Price Index (CPI), which is used to measure inflation in the United States. Its final report, titled "Toward A More Accurate Measure Of The Cost Of Living" and issued on December 4, 1996, concluded that the CPI overstated inflation by about 1.1 percentage points per year in 1996 and about 1.3 percentage points prior to 1996.
9-567: The report was important because inflation, as calculated by the Bureau of Labor Statistics , is used to index the annual payment increases in Social Security and other retirement and compensation programs. This implied that the federal budget had increased by more than it should have, and that projections of future budget deficits were too large. The original report calculated that the overstatement of inflation would add $ 148 billion to
18-567: A statistical resource to the United States Department of Labor, and conducts research measuring the income levels families need to maintain a satisfactory quality of life. BLS data must satisfy a number of criteria, including relevance to current social and economic issues, timeliness in reflecting today's rapidly changing economic conditions, accuracy and consistently high statistical quality, impartiality in both subject matter and presentation, and accessibility to all. To avoid
27-622: Is a unit of the United States Department of Labor . It is the principal fact-finding agency for the U.S. government in the broad field of labor economics and statistics and serves as a principal agency of the U.S. Federal Statistical System . The BLS collects, processes, analyzes, and disseminates essential statistical data to the American public, the U.S. Congress , other Federal agencies, State and local governments, business, and labor representatives. The BLS also serves as
36-798: The Department of Commerce and Labor by the Department of Commerce Act (32 Stat. 827) on February 14, 1903. Finally, it was transferred under the Department of Labor in 1913 where it resides today. The BLS is now headquartered in the Postal Square Building near the United States Capitol and Washington Union Station . Since 1915, the BLS has published the Monthly Labor Review , a journal focused on
45-413: The 14th Commissioner of Labor Statistics on January 29, 2013, for a term that ended on January 27, 2017. William Wiatrowski, Deputy Commissioner of the BLS, served as Acting Commissioner until the next commissioner, William Beach was sworn in. Beach served until January 2024, at which time he was succeeded by Erika McEntarfer. Commissioners of Labor Statistics (1885 to present): Statistics published by
54-410: The U.S. Statistician Carroll D. Wright became the first U.S. Commissioner of Labor in 1885, a position he held until 1905. The Bureau's placement within the federal government structure changed three times in the first 29 years following its formation. It was made an independent (sub-Cabinet) department by the Department of Labor Act (25 Stat. 182) on June 13, 1888. The Bureau was then incorporated into
63-676: The appearance of partiality, the dates of major data releases are scheduled more than a year in advance, in coordination with the Office of Management and Budget . The Bureau of Labor was established within the Department of the Interior on June 27, 1884, to collect information about employment and labor. Its creation under the Bureau of Labor Act (23 Stat. 60) stemmed from the findings of U.S. Senator Henry W. Blair 's "Labor and Capital Hearings", which examined labor issues and working conditions in
72-495: The data and methodologies of labor statistics. The BLS is headed by a commissioner who serves a four-year term from the date he or she takes office. The most recent Commissioner of Labor Statistics is William W. Beach , who was assumed office on March 28, 2019 Beach was confirmed by the United States Senate on March 13, 2019. Erica Groshen was confirmed by the U.S. Senate on January 2, 2013, and sworn in as
81-600: The deficit and $ 691 billion to the national debt by 2006. The report highlighted four sources of possible bias: The members of the Boskin Commission were: The Boskin Commission was the first extensive evaluation of inflation measurement since the Stigler Commission in 1961. Griliches was also on that commission. Bureau of Labor Statistics The Bureau of Labor Statistics ( BLS )
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