Thursday, 13 December, 2018

The Black Unemployment Rate Just Hit A Record Low

Trump appears to comment on jobs report before its official release Trump flouts federal rule with tweet touting job numbers | TheHill
Andrew Cummings | 04 June, 2018, 03:53

President TrumpDonald John TrumpTrump tells Trudeau on NAFTA: US will agree to fair deal or "no deal at all" Dem senator suggests Trump "sending a message to witnesses" with pardons Kim Jong Un hasn't changed his stance on denuclearization: report MORE on Friday touted the monthly federal jobs report roughly an hour before the data was released, appearing to violate a government rule.

Trump's tweet may have signaled to investors that the numbers were good, and they turned out to be: nonfarm payrolls increased by 223,000, more than economists expected, while the unemployment rate fell to an 18-year low of 3.8%. The president and other senior members of his administration are privy to the numbers a day before their release, but a Bureau of Economic Analysis rule bars executive-branch employees from commenting until an hour after the numbers are officially made public.

The 1985 rule that bars White House officials from releasing details of jobs reports ahead of time was written by the Reagan administration.

Within seconds of Trump's post, the USA dollar strengthened and Treasury yields rose, as investors anticipated the strong report they thought Trump had foreshadowed.

"If the president just tipped that the numbers are good, he broke the law", tweeted Goolsbee.

President Donald Trump promised on the campaign trail to bring real life back to the American economy, and if May's jobs report is any indication of his work almost 18 months into office, Trump has certainly succeeded. But former Obama White House press secretary Jay Carney took it a step further, saying that the same would be true under both Bush administrations:Ari Fleischer, former White House press secretary to President George W. Bush, seemed to concur.

But the president is typically briefed separately on the report prior before its release. They appear to have read Trump's tweet correctly.

Spicer later apologized and said while he understood the objective of the rule, his tweet didn't impact markets because the data had already been released. Nonetheless, he said the markets were selling off bonds before Trump's tweet, signaling expectation of a strong jobs report. "The advance info is sacrosanct - not to be shared", he wrote.

EU should help push Iran out of Syria: opposition negotiator
They said that in return, Russian police will make sure cease fire is maintained and will manage the area. Assad said the government had "started now opening doors for negotiations" with the SDF.

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Ainge added that Kyrie Irving , who is recovering from knee surgery, may be ready for scrimmaging at a point earlier than Hayward. Marcus is a good player", Ainge said during an interview with Boston radio station 98.5 The Sports Hub.

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In March, Trump boasted in another private fundraiser - this one in Missouri - that he had simply made up facts about the United States-Canada trade relationship during a meeting with Justin Trudeau, the prime minister of Canada, a top USA ally. "People who happened to be on Twitter at 7:21, you learned that the president was likely happy with the jobs report".

Trump's supporters revere this mold-breaking approach, but it has created an environment in which information that has always been closely held by the government is now fair game for Trump to reveal through a Twitter post or a casual remark.

Kudlow said on CNBC. "But secondly, and fundamentally, its really important that government statistics are perceived as being nonpartisan, nonpolitical data".

The answer to this question is clearly that we can not be sure that this hasn't or wouldn't happen thanks to the fact that this President has already violated almost every other norm that applied in the past.

Modest wage growth remains the great puzzle in the economy.

"He simply ignored the wall", New York University presidential historian Timothy Naftali said of Trump's post Friday.

"I don't think he gave anything away, incidentally".

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