Labor Department postpones October jobs report
The Labor Department announced on Wednesday that it will not release its monthly jobs report for October, as the ongoing government shutdown has hindered the collection of essential data.
Some of the October data will instead be included in a postponed November report.
This situation marks the first instance where the department will not publish an unemployment rate. The household survey, which determines this rate, could not be conducted because many federal employees responsible for it were furloughed during the relevant period.
The employment report consists of two main parts: a household survey to ascertain the unemployment rate and demographic details, along with an employer survey to provide payroll figures.
Although the October household survey could not be performed retroactively, hiring numbers from employers were still gathered, according to a notice on the department’s website.
The “Employment Situation” report for October will now be released alongside November’s data, with publication pushed back from December 5 to December 16.
The department did not specify when or if it would publish its October Consumer Price Index.
Two sections of the September jobs report, which were initially scheduled for release in October, will now be available on Thursday and Friday.
The Federal Reserve depends on these reports to inform its interest rate decisions. Policymakers are set to meet in December to consider whether to reduce rates for a third time this year. However, they will not have access to the November report prior to their meeting.
