Stellar Jobs Report Caps Month of Blockbuster Growth


Given the president's penchant for self-promotion, many assumed this meant a strong report was coming because Trump is one of a few federal officials who sees the report on Thursday before it's released to the public. "It's not the first norm he's breached; I think I've lost count of how many norms he's ignored or violated".

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.

The jobs data come out once a month, and often can lead to massive buying or selling trends on Wall Street depending on how the information is received.

The jobs report has heavy influence on financial markets and is closely guarded by federal officials.

Meanwhile, Kudlow said while he hoped Trump doesn't again comment on jobs numbers before they're released publicly, Trump's actions weren't improper. In August 2017, he tweeted, "Excellent job numbers just released" 15 minutes after a similarly upbeat report.

But the tweet was followed by a swift reaction from markets and a strengthening of the dollar, sparking criticism of the president's handling of sensitive information.

A former White House press secretary nodded to the decades of norms that Trump broke.

Washington has long tried to prevent market-moving data like the employment numbers from being prematurely released.

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During the Obama administration, Trump routinely said the numbers in the jobs report had been tampered with to bolster Democrats' political prospects.

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.

"All employees of the Executive Branch who receive prerelease distribution of information and data estimates. are responsible for assuring that there is no release prior to the official release time", the directive said.

Ari Fleischer, a Republican who served in President George W. Bush's administration and has been an occasional Trump adviser, also took exception, tweeting: "This certainly was a no-no".

Since then, Trump administration officials have been careful not to violate the directive. The White House is also threatening China with separate duties.

Martha Gimbel, director of economic research at Indeed, the job-listing site, said some of the fastest-growing search terms on the site this year are "full-time" and "9-to-5 jobs", evidence that many people want more work hours. And it came at the height of the financial crisis, when companies were laying off workers and the stock market was sliding almost every day. "I just want to interject this radical notion: The jobs report was really good, the economy is doing really well".

Obama officials chimed in as well, with former Council of Economic Advisers chairman Jason Furman tweeting: "You should have gotten the employment numbers from the Council of Economic Advisers yesterday".

"Make no mistake about it, it was good news on the labor market front, and his tweet did move the market", said Chris Rupkey, chief financial economist at MUFG, a Tokyo-based global bank with offices in NY.