Business
BLS took steps after improper data releases but watchdog wants more
Economist Steve Moore discusses the latest May jobs report, U.S. economic strength and the impact of President Donald Trumps pro-business policies on Maria Bartiromos Wall Street.
The Bureau of Labor Statistics has taken steps to address issues that led to the release of key economic data at improper times in 2024, though a watchdog said it has more work to do in establishing safeguards.
A report by the Labor Department’s inspector general looked at a trio of incidents in which economic data was either released early or late, or methodology was shared externally before it was made available to the public. In each case, BLS leaders didn’t learn of the situation until up to an hour after they occurred.
BLS data for key reports like CPI inflation data and the benchmark revisions to the employment data that underlies the monthly jobs reports carries a great deal of significance for economic decision-makers and financial markets, and untimely or unauthorized releases could give some traders an advantage over their peers.
The report explained that the watchdog had identified shortcomings in procedures around data release processes, and the BLS inadequately emphasized the importance of equitable access to information and safeguarding internally-restricted materials. The IG said that the BLS’ deviations from policy in those cases “negatively affected its reputation and credibility.”
INFLATION ROSE AGAIN IN MAY AS ELEVATED ENERGY PRICES SQUEEZED CONSUMERS
The BLS accidentally released inflation data early and a key employment report late in 2024, in addition to cases of sharing internal data methodology with external sources. (Joe Raedle/Getty Images)
In May 2024, the monthly consumer price index (CPI) data was published 31 minutes before it was scheduled to be released, while in August 2024 the publication of BLS’ preliminary benchmark revision to employment data was delayed for 34 minutes even though it was provided to some users who reached out to the agency.
Additionally, internal or inaccurate methodology information was shared externally three times that year before it was published.
“In response to these incidents, BLS closed gaps in IT safeguards, revised performance standards, strengthened management oversight, and training,” the IG report said.
TRUMP ORDERS TERMINATION OF LABOR STATISTICS OFFICIAL AFTER JOBS REPORT AND DOWNWARD REVISIONS
The Bureau of Labor Statistics said it has revised policies and procedures to prevent unauthorized releases of economic data. (Anna Moneymaker/Getty Images)
“However, we identified additional improvements BLS could make to reduce the risk of improper disclosure of essential economic information,” the inspector general added.
“BLS still needs to update its testing procedures, clarify its recently updated policies and procedures, and ensure staff’s compliance by improving buy-in, understanding of expectations, and accountability,” the IG explained, adding that it should also finalize its crisis communications plans and perform related exercises to ensure staff are prepared for such scenarios.
Acting BLS Commissioner William Wiatrowski included a letter responding to the report which said that the results of the audit are “generally consistent with the previous reviews” aimed at guarding against early or unauthorized disclosures.
Economic data carries great importance for financial markets and economic decision-makers, raising the stakes of untimely or unauthorized releases. (Reuters/Jeenah Moon)
Wiatrowski explained that the IG’s report acknowledges several of the corrective measures the BLS has undertaken, saying that in some cases the report and its recommendations “fail to recognize the totality of corrective measures taken or clarifying documentation provided.”
“The OIG conclusion does not recognize that BLS has already strengthened IT testing, updated customer service policies, procedures and training, updated and disseminated the BLS Crisis Communication Plan to all BLS staff with defined roles and those staff have exercised said plan,” he added.
The report comes as the BLS is scheduled to release the June jobs report on Thursday, rather than the usual Friday due to the observance of Independence Day.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Economists polled by LSEG are projecting that the economy added 110,000 jobs in June, a figure that would mark the fourth straight month of steady job gains despite representing a deceleration from growth seen in the last three months.
These Were the Best and Worst S&P 500 Stocks in July
I have been involved in the financial world for over 25 years with experience as an advisor, teacher, and writer. I am a full believer in the free-market system and that financial markets are efficient with most stocks reflecting their real current value. The best opportunities for profits on individual stocks come from stocks that are less-widely followed by the average investor or from stocks that may not accurately reflect the opportunities that currently exist in their markets.
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
I am an avid investor with a major focus on small cap companies with experience in investing in US, Canadian, and European markets. My investment philosophy to generating great returns on the stock market revolves around identifying mispriced securities by understanding the drivers behind a company’s financials, and ultimately, most often revealed by a DCF model valuation. This methodology doesn’t limit an investor into rigid traditional value, dividend, or growth investing, but rather accounts for all of a stock’s prospects to determine the risk-to-reward.
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
For more evidence that Tesla might not be a car company, consider the recent report that Tesla could be thinking of leaving its largest, most productive car plant in the world’s largest market for new cars and new EVs behind, in favor of an all-artificial-intelligence future.
Wall Street extended its late-month rebound on Friday, but it wasn’t enough to offset what’s been a tough July for equities.
The Nasdaq Composite ended the final trading day of July higher, up 1%. The S&P 500 also rose, gaining 0.7%. The Dow Jones Industrial Average climbed 0.5%, or 277 points.
Despite these gains, the S&P 500 and the Nasdaq weren’t able to finish the month higher. The Nasdaq ended July down 3.2%, while the S&P 500 fell 0.1%. The Dow ended the month higher, up 0.3%.
Ian Bezek is a former hedge fund analyst at Kerrisdale Capital. He has spent the decade living in Latin America, doing the boots-on-the ground research for investors interested in markets such as Mexico, Colombia, and Chile. He also specializes in high-quality compounders and growth stocks at reasonable prices in the US and other developed markets. Ian leads the investing group Ian’s Insider Corner. Features of the group include: the Weekend Digest which covers everything from new ideas to updates on current holdings and macro analysis, trade alerts, an active chat room, and direct access to Ian. Learn More.
Analyst’s Disclosure: I/we have a beneficial long position in the shares of BR either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Japan to announce joint yen intervention with US, sources say – Reuters
This is an edition of the Markets P.M. newsletter, a recap of the day’s most important markets moves, delivered after the closing bell. If you’re not subscribed, sign up here.
What Happened in Markets Today
Amazon shares surged 15% on strong cloud sales. The company reported 37% revenue growth in Amazon Web Services, the fastest growth rate in 18 quarters. Apple stock fell roughly 7% after it gave a disappointing forecast for the September quarter. Supply chain constraints are making it difficult for the company to source components for its iPhones and iPads.
Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
I’m an individual investor looking to grow my wealth over the long term. I’ve tried many different styles of investing over the last 25 years and have found that buying dividend growth stocks and reinvesting the dividends is one of the easiest ways to grow wealth over the long term. Over the years, I’ve owned stocks, options, ETFs, treasury notes, and mutual funds. I operate a blog, HarvestingDividends.com, that provides information on the S&P Dividend Aristocrats and other dividend growth stocks.
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
I may take a position in any of the stocks mentioned in this article in the near future.
Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Why Roblox Had Its Worst Day Ever After Earnings
PGA Tour leader details recent struggles
Startup uses Arm cores and 128TB of LPDDR6 to smash AI’s Memory Wall
What can you do if a neighbour’s pet poos in your garden? I asked legal experts and they all agreed
-
Sports6 days agoCommonwealth Games boxing: Jadumani Singh seals dominant 5-0 win over Pakistan’s Sumama Rehman to enter quarter-finals | Commonwealth Games News
-
Business3 days agoWhy Trees Belong on the Risk Register
-
Fashion1 day agoWeekend Open Thread: Wit & Wisdom
-
Tech6 days agoIntel is reversing course and bringing hyper-threading back to its server chips
-
Politics1 day agoMeta enters AI-training agreement with far-right ‘propaganda rag’ Newsmax
-
Politics6 days agoLuke Littler dismantles Gerwyn Price to retain title in Blackpool
-
Crypto World13 hours agoMicroStrategy Post-Earnings CLARITY Act Push Could Add New Catalyst for Its Stock
-
Politics5 days agoThe Part of the Electric Transition Nobody Wants to Discuss
-
Entertainment4 days ago‘Stargate’ Creator’s New Sci-Fi Series Returns for Season 3 Tomorrow
-
News Videos6 days agoBITCOIN JUST ENTERED THIS CRITICAL ZONE…
-
Business4 days agoMajor shareholder moves on Canyon
-
Crypto World7 days agoXRP Ledger adds $2.6B as RWA inflows rank second
-
Politics7 days agoSpain sweeps the board at 2026 World Cup with individual awards
-
News Videos3 days agoBitcoin Enters the 3rd Stage of the Bear Market
-
Crypto World22 hours ago
XRP Ledger v3.3.0 brings five institutional features
-
Crypto World4 days agoKraken Enables Retail Access to Jersey Mike’s IPO via Tokenized Shares
-
Tech5 days agoNew macOS Sequoia & Sonoma security updates for older Macs
-
News Videos4 days agoClaude: Build Financial Dashboards in Minutes (2026)
-
Sports2 days agoSeema Kaliramna Wins Discus Throw Bronze, Takes India’s CWG Medals Tally To 17
-
Politics2 days agoLuke Littler’s dominance sparks GOAT debate
You must be logged in to post a comment Login