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Making Sausage in the Lock-Up

Want a peek behind the scenes of economic journalism? This morning Hampton Pearson gave a rundown on the ins and outs of the jobs report "lock-up."

A lock-up is where the government, in this case the Department of Labor, gives a select group of journalists critical info about half an hour ahead of time so that the journalists can get all their scripts and bulletins set and ready. But they keep those journalists sequestered until it's time to make the announcement.

The idea is that if journalists have some lead time, they are less likely to misspeak or mistype information that can move a market the wrong way. The Fed does lock-ups too.

Check out Hampton's take in the video.