Labor Department limits news outlets’ use of embargoed data – By Martin Crutsinger (The Associated Press) / Jan 16 2020
WASHINGTON — The Labor Department will begin restricting news organizations’ use of economic data by barring computers from the rooms where reporters receive such data before its public release, department officials announced Thursday.
The early access to embargoed data allows news services to prepare articles in advance of the public release of economic reports.
While credentialed reporters will still have early access to embargoed economic figures, the department says it’s barring their use of computers during that time. The Labor Department said this is to ensure the security of the data and to prevent anyone from benefiting from early access to the data, which can influence stock and bond markets.
Department officials said the ban will go into effect March 1. It will cover all releases that the department issues each month, including the highly watched U.S. jobs report.
For several years, reporters have had to surrender their cellphones and other electronic devices before entering the so-called lockup rooms in order to prevent early transmission of the information in the reports. But they were allowed to write their news stories on computers that could transmit the data once the embargo lifted.
But in a letter to news organizations, Labor said the current process still gives some news organizations a competitive edge by allowing them to transmit the data through high-speed networks to serve such clients as investment firms.
Continue to article: https://www.federaltimes.com/management/2020/01/16/labor-department-limits-news-outlets-use-of-embargoed-data/
