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White House Says October Jobs and CPI Data Likely Lost as Shutdown Nears End

Economists want November figures prioritized to give the Fed current readings for its December meeting.

Overview

  • Senate passage of a bipartisan stopgap sets the stage for House approval that would reopen agencies and lift the federal data blackout.
  • The Bureau of Labor Statistics is expected to release the already collected September employment report quickly once operations resume, with other delayed releases likely taking one to two weeks.
  • White House officials Karoline Leavitt and Kevin Hassett said October CPI and portions of the jobs report may never be published because key surveys were not conducted during the shutdown.
  • Analysts urge BLS to focus first on November employment and inflation reports, noting that October data could be skipped, reconstructed from recalls, or judgmentally estimated.
  • Private indicators are filling the gap, with Goldman Sachs estimating a 50,000 decline in October payrolls and ADP reporting 42,000 private-sector jobs added.