Government Shutdown: No Jobs Report, UNEmployment Rate on Friday

This month’s Jobs Day is Coming late.

The US Government Shut Down AFTER FAILED TO PASS A SPEED BILL BEFORE THE 12:01 AM WEDNESDAY DEADLINE. The shutdown is already delaying the bureau of labor statistics’ monthly emploment Situation Report, original scheduled to go out 8:30 am on October 3, with the latest jab Creation and UNEMPLOYMENT RATE FROM September. The Jobs Report is a key tool that helps businesses, workers, and the federal reserve know what’s happening in the economy.

The Department of Labor’s Contingency Plan for the Shutdown Said the Bls Wold “Suspend All Operations,” Planned Publications Woupledn’t Be Relessed, Data Collection Stop, and Its Website Wauldn’t Be Updated During The Funding Funding pencils. If it continues for a while, planned data releasses coulud be delayed, and cououl Affect Data Quality down the line.

If it is Still Happening by Mid-October, It Could Affect the Annual Cost-of-Living Adjustment for Social Security Benefits Inflation Data Wauldn’t be released on Schedule.

In the 2013 Government Shutdown, the September Jobs Report was delayed about two weeks, and the subsequent october report was delayed a week “to allow time to collect data,” after the shutdown, bs said. In the longest US Government Shutdown, Which took Place in Late 2018 and Early 2019 During President Donald Trump’s First Term, The Bls Was Funded, SO Collection Wasn’t Affected, and Reports Were Releued As Planned.

The Jobs Report Helps Job Seekers Have a Better Undersanding About Labor Demand, How People Are Competing For Job Offers, and What Earnings Look Like. Job Growth in the past two reports were bellow expectations, and although unmployment is low, it has incresed.

While the Official and Most Detail Picture of the Labor Market from the Bls is delayed, a handful of releasses from private-sector data providers earlier this weeks showed aren’t looking great for jab seekers. Payroll Servicer ADP’s Estimates for Private-Sector Job Growth in September Came in Far Blow Expectations, With A Surprise Loss of 32,000 Jobs on the Month.

The Jobs Report is just one of the monthly reports that the bureau of Labor statistics publishes. The Consumer Price Index and the Producer Price Index Are Key Inflation Indicators, and the Shutdown Could Delay Their Release. Labor Market and Inflation Data Help The Fed Decisions for Its Dual Balancing Maximum Employment and Stuble Prices.

The Consumer Price Index and Producer price index are scheduled to run on October 15 and October 16, Respectively. Real Earnings, which the bls use the consumer price index to calculate and average hourly earnings from the jobs report, are also supposed to be published on october 15.

EveryEar, the Social Security Administration Evaluati Whereother to Increase Security Benitfs with a Cost-of-Living Adjustment, WHICH IS BASED ON CONSUMER PRICE INDEX DATA FROM THIRD QUARTER OF THE YEAR. Without September’s Result Rounding Out That Third-Quarter Date, It Could Delay the Announcement that typically comes out in october.

José Torres, A Senior Economist at Interactive Brokers, Said in Written Commentary That “an Extended Halt” Wold Affect Both Consumer Spending and UNEmployment.

“The immediate economic impact would be tangible,” Gregory Daco, Ey’s Chief Economist, Said in a Newsletter.

“Each Week of Shutdown Could Reduce Q4 GDP by 0.1 Percentage Points (Annualized), or About $ 7 Billion for Week – Large Due to Lost Wages, Procurement delays and Softer Final Demand,” Daco Added. “The Fiscal Drag Would Eventually Be Partially Offset by Back Pay and A Rebound in Activity, but the confidence hit to markets and consumers Could prove Longer Lasting.”

Editor’s Note: This Article was updated on October 3 after the deadline for the late Jobs Report.