BLS Data Slipups Are Becoming a Pattern

This can’t keep happening. With trust in government already ebbing, there’s yet one more reason to question the integrity of the office that distributes key data about jobs and prices. The problems at the Bureau of Labor Statistics need to be addressed quickly for the good of financial markets, the economy and public confidence in the state.

The Aug. 21 employment data release was already likely to cause consternation, especially amid a presidential campaign. That’s because it showed that an earlier estimate of how many jobs were created in the year through March was probably too high by 818,000, the biggest revision in 15 years. But such corrections do happen.

The real problem was how the BLS distributed this extremely sensitive and market-moving data. The scheduled 10 a.m. public release was delayed, unexpectedly, until after 10:30. But during the delay BLS officials provided the still-unreleased numbers to select analysts who called the bureau. Market participants said they were stunned by such mismanagement.

The bureau has promised that its inspector general will investigate and pledged to make several procedural changes to avoid any future mishaps. But that’s of little solace given the increasing frequency with which such problems have been occurring. A full investigation was also promised after a bungled release of consumer price data in May. E-mail records and unusual price movements have raised suspicions that key statistics are being released selectively. The latest snafu adds to the impression that there’s a culture of leaks inside the department.