The lack of job data due to the government’s closure of the economy

The lack of job data due to the government's closure of the economy
Latest Job Opportunities in India

Latest Job Opportunities in India

Discover top job listings and career opportunities across India. Stay updated with the latest openings in IT, government, and more.

Check Out Jobs!
Read More

The lack of job data due to the government’s closure of the economy

Written by Christopher Roger, economist AP

WASHINGTON (AP) – From Wall Street floors circulated to the federal reserves to economists who consume coffee in their home offices, on Friday morning, the first of the month is usually Monthly job report.

But with the government closing, no information was issued on Friday about employment in September.

Data interruption occurred in a Especially not confirmed timeWhen policymakers in the Federal Reserve, Wall Street, do investors You need more data On the economy, instead of less. Employment has almost stopped, threatening to withdraw the wider economy. However, at the same time, they are consumers-especially high-income people- Spend Some companies intensify investments in data centers that develop artificial intelligence models. Whether this is sufficient to revive the employment still must be seen.

It is the first time since the government was closed in 2013 that delayed the job report. During the partial government closure 2018-2019, the Ministry of Labor was one of the many agencies that remained open because Congress agreed to its financing. September job numbers will be released in the end, as soon as the closure is over.

If the closure lasts for another week or more, it can also postpone the release of other prominent data, including the following inflation report, which was appointed on October 15.

The Trump administration blamed Democrats in the Senate for closing, while Democrats are of similar charges against the White House.

Companies, families, policymakers, markets and even federal reserves are blind to a major turning point in the economic emission of America because the closure of the Democrats government has stopped the launch of the major economic data,” said Kush Disai, Kush Desai spokesman.

After President Donald Trump himself Often government jobs are limited When you paint an exciting image of the economy. In August, Fire I informed the head of the work statistics office at the time after the agency reported that the job gains in May and June were sharply less than what I mentioned earlier.

At the present time, economists resort to alternative measures for the labor market provided by non -profit organizations and private sector companies. These measures mostly show a labor market with a little employment, but not many layoffs, too. It seems that those who are often safe jobs, while those looking for work spend a tougher time.

ADP salary lists, for example, He said Wednesday His appreciation showed that the economy had lost 32,000 jobs in the private sector last month. ADP found that companies in the construction, manufacturing and financial services industries reduce all jobs. Restaurants and hotels, and professional services such as accounting and engineering, get rid of workers.

ADP said that companies in health care, private education and information technology are the only sectors that add workers.

“We have seen a significant decrease in hiring momentum throughout the year,” said ADP. “This is consistent with low rental-even low economy-and the low economy.”

Lack of jobs data due to government shutdown muddies view of hiring and the US economy

Leave a Comment