(Bloomberg) -- It took 20 minutes for Bureau of Labor Statistics officials to realize that highly anticipated jobs revisions data was not visible to the public at the scheduled release time last month.
Records released to Bloomberg News under a Freedom of Information Act request showed how the agency was scrambling to identify the source of the problem on the Aug. 21 release date. It appeared BLS employees didn’t realize there was a delay until users “inundated” them with calls and messages, the records show. The data was supposed to be posted on the agency’s website at 10 a.m. in Washington.
In a detailed timeline that lays bare the technical snafu, BLS officials frantically messaged each other to try to determine what was happening.
At 10:20 a.m., an official realized the data was only visible internally to the BLS, while members of the public couldn’t see it on the agency’s website. Another staffer messaged five minutes later, “We’ve had this problem before.”
The incident sparked outrage not only due to the delayed release of closely watched economic data, but also because at least three banks managed to get the numbers by calling the BLS while the rest of Wall Street was left waiting. Bloomberg News called the agency as well but wasn’t able to get through.
The email records show BLS staff were looking for guidance on how to respond to people calling and messaging the agency trying to get figures.
At 10:13 a.m., 13 minutes after the numbers were supposed to be released, the records show one employee emailed another asking whether they should be providing the data to callers if the figures weren’t yet available on the web page.
‘Potential Data Leak’
Another employee sent a similar email at 10:26 a.m., noting that their personal computer was still not showing the updated figures on the agency’s website. “Is it OK for me to provide the numbers verbally,” the person said, “until whatever this is is worked out?”
“Yes, the link online hasn’t been updated,” a second employee responded at 10:28 a.m. “We are hoping it gets there asap. For now, hold on.”
But it appears the last part of the message wasn’t received or understood.
“Potential data leak,” the first employee warned four minutes later, at 10:32 a.m., adding that they had followed certain procedures for “unpublished but releasable data” and had “told some customers” the figures.
“I am so sorry if I misunderstood procedure and I accept any consequences,” they said.
“Don’t worry about it,” the second employee replied at 10:35 a.m. Four minutes later they sent a follow up email reassuring the first employee that “you didn’t do anything wrong” and “others were providing info over the phones and the issue with the load to the public website is being investigated.”
The agency later notified the Department of Labor’s Inspector General of the incident, and said the episode prompted steps to beef up data-release protocols. It attributed the delay to a technical glitch, a spokesperson said on Aug. 28.
The payrolls data garnered heightened attention also because of the size of the revision, suggesting job growth in the year through March will be marked down by the most since 2009.
The incident was the latest in a series of mishaps at the BLS, which has faced renewed criticism from Wall Street firms over its handling and release of market-sensitive data.
One person from SMBC Nikko Securities sent an email to BLS asking for guidance on how to lodge a complaint, the records showed.
“Government agencies cannot be releasing critical, market-moving information to *some* agents and broker dealers first via telephone, while also keeping everyone else in the dark when markets are moving,” they wrote.
After the technical issues were addressed and the data was finally posted, BLS then spent hours returning messages to people who were unable to access the data, according to the records.
--With assistance from Augusta Saraiva.
(Updates with additional details throughout.)
©2024 Bloomberg L.P.
