Bloomberg Television7 min
Labor Secretary Says Department Looking to 'Modernize' BLS Data
Interview
- Employers are advised to implement policies addressing unpredictable workforce issues, including executive misconduct, to demonstrate market adaptability.
- The Department of Labor aims to reduce reliance on foreign labor programs by ensuring local American workers in hiring communities can secure available positions.
- Companies utilizing visa programs face increased scrutiny from the Department of Labor, the Inspector General, and the Department of Justice to prevent the displacement of American workers and to investigate PERM program abuses regarding permanent residency pathways.
- PERM applicants are expected to conduct proper advertising and verify the unavailability of qualified local workers to correct program abuses detrimental to American labor.
- The administration is collaborating with industry to align education and workforce development with hiring needs, operating on the premise that American workers are the most talented, thereby reducing the necessity for foreign visa programs.
- The Bureau of Labor Statistics (BLS) is pursuing modernization of data collection methods to address massive monthly revisions and maintain public trust, with technology expected to enhance transparency and reduce revision swings caused by late filings.
- Construction sector wages are projected to continue performing well due to historic reindustrialization investments, with wages already up 6% year over year compared to a 5% increase in manufacturing.
- The Department of Labor intends to equip workers with the skills necessary to access high-paying jobs generated by trillions of dollars in incoming investments, specifically within the manufacturing sector.