When it comes to understanding how the economy is doing, federal data is like the foundation of a house—it holds everything together. Without it, businesses, policymakers, and communities would struggle to make informed decisions. But that foundation is now at risk, experts say, especially as skepticism about the accuracy of this data grows.

“This data keeps our economy running as much as roads and bridges do,” said a former official at the Bureau of Labor Statistics. However, response rates to key surveys—the backbone of this data—are dropping, partly because people are tired of answering questions over the phone or in person.

This drop in participation means the data can become less reliable, opening the door for criticism. Recent revisions to employment numbers, for example, sparked claims that the data was manipulated. But experts explain that these revisions are normal, especially after events like the pandemic and immigration surges.

Trust in this data is crucial. If people stop believing in it, they stop using it, which can lead to poorer decisions in both the public and private sectors. And it’s not just about trust—funding for these statistical agencies has been shrinking for years, making it harder for them to modernize and adapt to new challenges.

Efforts are underway to improve how data is collected, like adding online response options to surveys. But these changes take time and money, and resources are tight.

“If you can’t measure anything, how can you make the government more efficient?” asked another expert. “Worse information leads to worse decisions, and that hurts everyone.”

The stakes are high, especially for marginalized communities. Changes in how data is collected or reported can make it harder to address issues like unemployment or health disparities among vulnerable groups.

While some suggest consolidating statistical agencies could streamline operations, others worry it could further erode trust in the data. One thing is clear: undermining this information doesn’t just hurt—it can have lasting effects on the economy and society as a whole.

So, next time you hear someone call economic data “fake,” remember: this isn’t just about numbers. It’s about the decisions that shape our lives.