Trump Breaks Protocol, Sends Market Signal on Jobs Report Before Data Released

13:33 GMT, 1 June 2018

WASHINGTON (Sputnik) - US President Donald Trump broke with long-standing protocol and said in a statement on Friday that he was looking forward to seeing the monthly jobs report, more than one hour before the Bureau of Labor Statistics officially released the data.

Sputnik

"Looking forward to seeing the employment numbers at 8:30 [12:30 p.m. GMT] this morning," Trump said in a Twitter message at 7:21 a.m. local time.

A little over an hour later, the Bureau of Labor Statistics reported that 223,000 jobs were created in May, and the unemployment rate fell to 3.8 percent, its lowest level since 1969.

US presidents have long refrained from commenting on the jobs report before its official release. The Chairman of the Council of Economic Advisers receives the report the day before its publication and is allowed to share it with the president, but neither are supposed to comment on it until its official release.

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The release of the jobs data can often prompt massive market changes, with investors buying or selling on Wall Street depending on the information in the report. Any early release of the information could, therefore, affect markets.

US Treasury yields rose sharply within seconds of Trump's post, the Washington Post reported, adding that it appeared to be the first time that the president commented on the data ahead of the report's release.