Labor Dept.: Trading Issues Spurred Changes In Jobs-Data Release

Daniel Rowland/AFP/Getty Images

The Wall Street Journal – By Geoffrey Rogow – June 6, 2012

A Department of Labor official said planned changes in the release of the U.S. jobs report are aimed at addressing complications that have arisen as media companies have jockeyed to deliver the data to high-speed traders.

“It has become increasingly challenging to ensure that the technical work performed on behalf of news organizations complies with our data-security policy,” said Carl Fillichio, senior adviser for communications and public affairs at the Department of Labor, in remarks before a House panel on Wednesday.

The hearing by the House Committee on Oversight and Government Reform was called to examine the Labor Department’s planned changes.

Beginning in July, the department has said it will no longer allow news agencies to use customized computer networks to send market-moving employment data to a range of clients, including traders. Currently, a number of news agencies, including Dow Jones & Co., publisher of this newswire, maintain specialized hardware and software on government premises, which allow them to transmit the data to subscribers as soon as figures are released.

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