Such an organization cannot exist. These agencies are always balancing two opposing forces, timeliness and accuracy. Data collection is inherently delayed (e.g. a lot of it is from surveys that businesses complete at their own speed, or from reports that each state/agency submits on their own timeline.) So collection for a given quarter typically completes long after the quarter is over, and then it takes some time to crunch those numbers.

So if you want early data it will inherently be of limited accuracy because that involves a lot of extrapolation with whatever incomplete data has been collected by that time. If you want accurate data you will have to wait for it because that data takes longer to be collected. You do want both because you need to make timely decisions, since most times the early numbers don't get revised by much, but you also want to course-correct when later, better data gives a different signal.

Agencies like the BLS publish their methodologies in great detail. Big revisions have always been happening, only they are getting more attention these days because of the heavy politicization.

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mensetmanusman 4 days ago | parent [-]

They shouldn’t announce until it’s accurate then?

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keeda 3 days ago | parent | next [-]

That's where the timeliness versus accuracy trade-off comes in. There is significant value in having an early signal to act on, especially as long as there is awareness of its limitations. And as I mentioned, this data does come with very clearly documented caveats and methodologies so that users can make informed decisions.

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rrrrrrrrrrrryan 3 days ago | parent | prev | next [-]

Normally they're accurate enough, and the revisions/refinements are small.

The initial estimates haven't been accurate recently, because many workers have been completely dropping out of the economy because they're afraid of immigration raids. Information about these workers is just harder to gather and takes longer to verify.

	▲	gg82 3 days ago \| parent [-]
		Actually the major complaint was from last year when Biden was president (I'm not sure about this year). Every month, prior months were adjusted downward, often 100,000's thousands and wiping out the previous months positive figure.

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3 days ago | parent | prev | next [-]

[deleted]

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PieTime 4 days ago | parent | prev [-]

Unless they are accurate most of the time, I would agree with this.