DOL restricting access to employment data

[lechrus2]

DOL forcing media to use government computers

The Department of Labor allows journalists access to employment data before it's released so that they can prepare their stories ahead of time.

Some new changes are afoot:

1) Everybody will need to re-credentialed.
2) Only 20-30 people from "journalistic enterprises” will be allowed access. (The DOL promises not to consider one's politics in making credentialing decisions.)
4) Only Government-supplied computers will be allowed to be used.

The concern of news organizations is that their ability to prepare publishable charts and consult previous stories/information for context and analyses will be compromised. They're also concerned that the new process will slow down delivery of the news. Sounds like that's the plan.

[Yellowknifer]

Most transparent administration ever.

[AndromedaPatFan]

Government data is a major source of insider trading risk. Haven't you seen Trading Places?

Seriously, as long as they provide open access to the information very promptly after the moment of release, I'm not sure I'm seeing a big-deal problem here.

And by the way -- does anybody doubt that the Wall Street Journal and Fox News will be among the credentialed?

[Superbelt]

And by the way -- does anybody doubt that the Wall Street Journal and Fox News will be among the credentialed?

They are the same entity anyway.

Like you said, everyone still gets the data, just restricting pre release.

[AndromedaPatFan]

They are the same entity anyway.

Like you said, everyone still gets the data, just restricting pre release.

I bet Murdoch will get 2-3 of the seats available.

[RayClay]

DOL forcing media to use government computers

The Department of Labor allows journalists access to employment data before it's released so that they can prepare their stories ahead of time.

Some new changes are afoot:

1) Everybody will need to re-credentialed.
2) Only 20-30 people from "journalistic enterprises” will be allowed access. (The DOL promises not to consider one's politics in making credentialing decisions.)
4) Only Government-supplied computers will be allowed to be used.

The concern of news organizations is that their ability to prepare publishable charts and consult previous stories/information for context and analyses will be compromised. They're also concerned that the new process will slow down delivery of the news. Sounds like that's the plan.

What does this paragraph mean?

Since the stock market can rise or fall by hundreds of points as a result of such a data release, making sure nobody gets an advance peek at the data is critical to insuring the integrity of the process.

[Dave]

What this all means is that the DOL and wallstreet regulators are probably concerned (i.e. they've seen multiple cases of it occurring but haven't prosecuted) that too many journalists have access to the data and have become a source of leaks that are then being used by insiders.

As APF pointed out, there was a fantastic documentary made in the early 80's about the attempts of two brothers, Randolph and Mortimer Dukes, to trade on insider info and illegally profit off the orange juice commodity market.