Labor Department needs to improve how it releases data: panel...
Posted in the Banking Forum
#1 Jan 3, 2014
Increasingly, Labor Dept. is becoming a clown for the Wall Street if not the political instruments to advance You Know What... At end of the day, its data released are often completely repudiated and became scandalous...A practice that needs to be overhauled...
(Reuters)- The U.S. Labor Department should either tighten the procedures that it uses to release market-sensitive data to the media or scrap them altogether and distribute the data directly to the public, a watchdog for the department said on Thursday.
The recommendation to tighten the so-called lockup process, specifically the department's weekly jobless claims figures, was included in an audit released by the Labor Department's Office of Inspector General. The panel was reviewing the process in an effort to prevent the possibility that some investors could have an unfair competitive advantage in buying and selling stocks, bonds and other trading assets.
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