Published: Mon, June 04, 2018
Finance | By Gustavo Carr

Trump flouts federal rule with tweet touting job numbers

Trump flouts federal rule with tweet touting job numbers

Indeed, May's report showed the economy added 223,000 jobs in May, pushing the unemployment rate to just 3.8 percent, a level not seen in 18 years.

"Looking forward to seeing the employment numbers at 8:30 this morning", Trump tweeted at 7:21 a.m. ET.

White House Press Secretary Sarah Huckabee Sanders told CNBC that Trump did not break the rule because he did not cite the report's numbers.

Trump's tweet appeared to violate a federal law banning government officials from commenting on the monthly jobs report until an hour after its release.

President Trump's enthusiastic tweet before the release of Friday's jobs report may have breached a rule created to safeguard and depoliticize market-moving financial data issued by the federal government. Treasury yields rose after the tweet and ahead of the jobs report.

"If he was sending a message that it was a good number, when there is not a good number, we will now know it because he won't tweet", said Kaltbaum.

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

Meantime, Trump is being accused of revealing the report with a tweet suggesting it might be positive.

White House chief economic adviser Larry Kudlow admitted that numerous looming global trade disputes could jeopardize the robust US labor market. The US "needs to choose between tariffs and exporting more to China".

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"I apologize if we're a little excited and we're so glad to see so many fellow Americans back at work", he said.

But manufacturing jobs under President Trump are growing, by a lot, after declining under Barack Obama.

"1985 federal directive on #JobsReport states: "employees of the Executive Branch shall not comment publicly on the data until at least one hour after the official release time".

President Donald Trump's top economics adviser acknowledged Sunday the trade dispute with United States allies could jeopardize the booming American economy but dismissed criticism of the administration's stance as overblown.

The Bureau of Labor Statistics publishes the jobs report on the first Friday of each month at 8:30 a.m.

Jason Furman, who chaired the Council of Economic Advisers in the Obama administration, said he anxious the decision would introduce instability into markets and appear to politicize statistics. The May jobs report brought another curious decline in the share of Americans working or looking for a job, with the labor force participation rate edging down to 62.7% from 62.8% in April.

Since then, Trump administration officials have been careful not to violate the directive.

Those anxious that tariffs could backfire by killing need to remember that nobody has been more effective in building up the poor than President Trump, according to his senior trade adviser. "I don't he gave anything away incidentally".

Tony Fratto, a Treasury Department official who worked in George W. Bush's administration, said that while not illegal, Trump's tease could be deemed inappropriate because "you want market participants to get their data from their government in predictable, official ways, not haphazard ones".

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