United States may open door to more temporary immigrant workers, Trump aide says

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Trump, who learned about the strong May jobs report Thursday night, tweeted Friday morning that he was "looking forward to seeing the employment numbers" due to be released by the Labor Department about an hour later.

"Looking forward to seeing the employment numbers at 8:30 this morning", the president tweeted he tweeted ahead of the official report.

The jobs report proved strong and beat expectations, revealing that the USA economy added 223,000 jobs in May. The president and other senior members of his administration are privy to the numbers a day before their release, but a Bureau of Economic Analysis rule bars executive-branch employees from commenting until an hour after the numbers are officially made public.

Jason Furman, the head of the Council of Economic Advisers for President Barack Obama, tweeted that if Trump's tweet conveys inside info then he should never get the jobs report briefing again.

The jobs data come out once a month and can lead to massive buying or selling trends on Wall Street, depending on how the information is received.

A positive jobs report does not necessarily mean the stock market will go up, as investors could see it as a signal that the Federal Reserve will move more aggressively to raise interest rates in an effort to keep the economy from overheating.

The yield on the 10-year Treasury note, which moves in the opposite direction of price, was at 2.885% at the time of Trump's tweet, The yield quickly moved up to 2.895% after the tweet, and climbed as high as 2.922 after the official release of the jobs report.

Prior presidents generally followed the protocol closely, though in the 1960s President Lyndon Johnson had a habit of talking about the numbers in advance.

As per the age-old practice, the Bureau of Labor Statistics releases the jobs report on the first Friday of every month.

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To even get to that point, the finalists had to survive almost five hours of onstage spelling that started Thursday morning. Other words that the spellers had to tackle included "soubresaut", "praxitelean", "ispaghul", and "loratadine".

"This certainly was a no-no", Ari Fleischer, former press secretary to President George W. Bush, said in a tweet.

Lawrence Summers, once a director of the National Economic Council under President Obama and a former Treasury secretary for President Bill Clinton, said Trump's statement would have been a "major scandal" for either of the administrations he worked in.

.

Ironically, candidate Donald Trump used to regularly dismiss the accuracy of the numbers in the jobs report his administration is now eager to brag about. USA stocks jumped in early trading.

The president in August 2017 touted the July report on Twitter roughly 15 minutes after the data had been publicized.

"Why not?" Kudlow said.

Those anxious that tariffs could backfire by killing U.S.jobs need to remember that nobody has been more effective in building up the poor than President Trump, according to his senior trade adviser.

Second, there has been a strong effort to insulate this information from political leaders, as advance discussion of the data could make it seem politicized. That was higher than the growth of 188,000 positions that economists had expected.

"It's possible, absolutely. I don't think it has right now", Mr. Kudlow said on "Fox News Sunday". There are government procedures for officials who handle undisclosed numbers that require a delay of commenting until one hour after they're released.

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