The US Department of Labor today announced an overhaul of how it will release statistics. They are forcing all organizations to re-apply for access to the media lockup. It will all take effect for the July 9 NFP release.
The most interesting part is that news organizations in the past have used their own computers, telephones and data lines to make the releases. Some companies have invested substantially in equipment to get the news out micro-seconds more quickly so algorithmic programs could get trades through faster. Now, the DOL plans to remove that equipment and install its own lines and computers. Reporters won’t even be allowed to bring their own pens.
The Q&A today was heated with reporters from the major news organizations saying it won’t work because they won’t be able to transfer directly to their content mangement systems.
Okay, so we won’t be able to use VPN and we won’t be able to use our current network. I mean, I don’t, I’m just at a loss how we’re supposed to do this. I don’t see, the way you’re describing it we’re going to have to email our stories to another reporter to send them out.
The DOL delivers a number of economic releases but for some reason they have decided to implement this first with non-farm payrolls on July 8 — should be an interesting day.
