BlockBeats News, October 1st, the US Bureau of Labor Statistics (BLS) stated that no economic data will be released or collected during the shutdown, which means that this Friday’s monthly nonfarm payroll report is “up in the air.” The Labor Department’s monthly inflation report, originally scheduled for mid-October, may also be affected by the duration of the shutdown.
The delayed release of economic data will shift the market’s focus to other alternative data, such as the ADP monthly private sector employment report scheduled for release this Wednesday. Weekly initial jobless claims data collected by states is expected to continue without interruption. In addition, data such as the monthly industrial production report released by the Federal Reserve will proceed as usual, as Federal Reserve funding is not appropriated by Congress.
The delayed reports will be released after the government reopens, once the data is compiled, but the data quality may be compromised. The impact will be particularly noticeable in the inflation report since the “on-the-ground price checkers” relied upon by the Labor Department (responsible for monitoring prices of items on store shelves and other scenes) will be forced to take leave. (Jinshi)
