Summary
The U.S. government shutdown has delayed the release of official job market data, which is important for economic decisions. Economist Mark Zandi stated that private data shows the job market is weak. Private sources are temporarily filling the information gap due to the absence of government reports.
Key Facts
- The government shutdown has delayed the nonfarm payrolls report from the Bureau of Labor Statistics (BLS).
- Economist Mark Zandi from Moody's Analytics says private data shows a weak job market.
- The private sector report from ADP estimated a loss of 32,000 jobs in September.
- Revelio Labs estimated 60,000 jobs were added in September but revised it down after more data.
- Economists and policymakers rely on the BLS data for making decisions about the economy.
- The unemployment rate is stable at 4.3%, according to Trading Economics.
- The official BLS report was expected to show weak job growth of about 50,000 jobs in September.
