In an uncommon move, President Donald Trump disseminated employment data prematurely on social media Thursday evening, revealing December figures that were not authorized for public disclosure until the Bureau of Labor Statistics (BLS) issues its monthly employment report each Friday morning at 8:30 a.m. Eastern Time.
The monthly jobs report is recognized as highly sensitive given its potential to provoke significant volatility in financial markets upon release. Indeed, the report published Friday contributed to advances in stock market indices and a slight reduction in bond yields. The data indicated a minor reduction in the unemployment rate to 4.4% and recorded a modest increase in job creation. These numbers helped soothe concerns among economists about a steep decline in hiring activity following notable job losses experienced in August and October.
The BLS safeguards early copies of this report with stringent confidentiality, restricting access to authorized personnel only. Typically, each month on Thursday afternoon, select White House economic officials receive advance copies under strict non-disclosure agreements, enabling them to prepare summaries for senior administration review. It was such a summary graphic that the President chose to post publicly Thursday night.
Addressing media inquiries on Friday afternoon regarding the early disclosure, President Trump remarked, "I don’t know if they posted them. They gave me some numbers. When people give me things, I post them." This comment implies that the President did not actively seek to leak the information but rather shared it as received.
Erica Groshen, former commissioner of the Bureau of Labor Statistics, noted that premature dissemination of these labor statistics could lead to penalties including fines and incarceration. However, historical precedents suggest most past infractions have resulted in relatively minor consequences.
The graphic released by President Trump detailed that the private sector had experienced an increase of 654,000 positions since January, contrasted against reductions totaling 181,000 positions within federal, state, and local government agencies. These figures encompass December hiring data alongside revisions to previous months' employment numbers that were not officially scheduled for release until Friday morning.
Despite posting these encouraging numbers, the President commented on their significance, stating "the numbers were amazing." It should be noted, however, that annual job growth last year totaled 584,000, representing the smallest yearly increment outside of recessionary periods since 2003. Conversely, in 2024, more than 2 million jobs were added, indicating an increased pace in employment expansion.
This incident has underscored the sensitivities around labor market data dissemination protocols, illustrating the implications of untimely publication of official economic indicators on public perception and market behaviors.