There will be no US jobs report today
The post There will be no US jobs report today appeared on BitcoinEthereumNews.com. Policymakers, investors, and businesses hoping for clarity on the status of the US labor market will not get it this week as scheduled. The Bureau of Labor Statistics (BLS), the agency tasked with producing the monthly jobs report, has been forced to suspend operations amid the ongoing government shutdown. The shutdown began at 12:01 a.m. EDT on Wednesday after lawmakers failed to agree on a funding package, Cryptopolitan reported. No resolution means no BLS data, which leaves the US federal reserve in confusion two weeks after it cut borrowing rates as a “precautionary” measure. The jobs report, scheduled for release Friday, was meant to be the last employment snapshot before the Federal Reserve’s next policy meeting in 26 days. Without it, officials will have to make interest rate decisions without the full picture of labor market conditions. BLS hands tied during federal government shutdown The Bureau of Labor Statistics, like dozens of other federal agencies, cannot operate without government funding. Its staff have been sent home until a deal is reached, so the agency is arguably unable to track the jobs of more than 170 million Americans and release its monthly economic reports. BLS conducts two main surveys to calculate monthly changes, with the first one based on households, measuring employment, unemployment, and participation rates among different demographic groups. The second, known as the “establishment survey,” looks at job gains and losses in several industries, wages and working hours. Both surveys are conducted in the middle of each month, but responses arrive days or even weeks later. Analysts then adjust the data before publishing the report on the first Friday of the following month. Sometimes, according to former BLS employees, the work continues until late on Thursday afternoon, just hours before release. Assuming the September report followed the same timeline,…
The post There will be no US jobs report today appeared on BitcoinEthereumNews.com.
Policymakers, investors, and businesses hoping for clarity on the status of the US labor market will not get it this week as scheduled. The Bureau of Labor Statistics (BLS), the agency tasked with producing the monthly jobs report, has been forced to suspend operations amid the ongoing government shutdown. The shutdown began at 12:01 a.m. EDT on Wednesday after lawmakers failed to agree on a funding package, Cryptopolitan reported. No resolution means no BLS data, which leaves the US federal reserve in confusion two weeks after it cut borrowing rates as a “precautionary” measure. The jobs report, scheduled for release Friday, was meant to be the last employment snapshot before the Federal Reserve’s next policy meeting in 26 days. Without it, officials will have to make interest rate decisions without the full picture of labor market conditions. BLS hands tied during federal government shutdown The Bureau of Labor Statistics, like dozens of other federal agencies, cannot operate without government funding. Its staff have been sent home until a deal is reached, so the agency is arguably unable to track the jobs of more than 170 million Americans and release its monthly economic reports. BLS conducts two main surveys to calculate monthly changes, with the first one based on households, measuring employment, unemployment, and participation rates among different demographic groups. The second, known as the “establishment survey,” looks at job gains and losses in several industries, wages and working hours. Both surveys are conducted in the middle of each month, but responses arrive days or even weeks later. Analysts then adjust the data before publishing the report on the first Friday of the following month. Sometimes, according to former BLS employees, the work continues until late on Thursday afternoon, just hours before release. Assuming the September report followed the same timeline,…
What's Your Reaction?
