The U.S. Labor Department will not publish a complete October jobs report. Officials made the announcement on Wednesday. The lengthy federal government shutdown is to blame. It halted crucial data collection efforts for over a month.
This means key figures, including the national unemployment rate, will be missing for October. According to the department’s statement, only partial data can be salvaged. This unprecedented move highlights the shutdown’s lingering impact on economic transparency.
Partial Data to Accompany November’s Delayed Report
The monthly jobs report comes from two surveys. One surveys households to calculate the unemployment rate. The other surveys employers to track hiring and wages.
The household survey for October could not be conducted. Officials stated it cannot be done retroactively. However, payroll data from employers was collected after the fact.
This partial October data will be released alongside the full November report. That combined release is now scheduled for December 16. It is several weeks later than the usual first-Friday schedule.
September Data Gains Heightened Significance for Fed
This gap makes the upcoming September jobs report critically important. It is set for release this Friday. It will be the last complete snapshot of the labor market before a key Federal Reserve meeting.
Fed policymakers meet in mid-December. They will decide on potential interest rate cuts. Their decision will now rely heavily on older September data.
The jobs report has been politically sensitive. The president dismissed the former Bureau of Labor Statistics commissioner after a disappointing July report. The former commissioner addressed the October cancellation online, calling it a straightforward consequence of the shutdown.
The cancellation of the full October jobs report underscores how procedural disruptions can cloud economic understanding. Analysts and policymakers must now navigate a significant data gap as they assess the health of the U.S. labor market.
Info at your fingertips
What part of the October jobs report is missing?
The household survey data is completely missing. This means the unemployment rate for October will not be calculated. Other metrics from that survey are also unavailable.
When will we see any October jobs data?
Some October data will be released on December 16. The employer survey numbers, like job creation figures, will come out then. They will be published alongside the full November jobs report.
Why couldn’t the data be collected later?
The household survey asks people about their job status during a specific week. That moment has passed and cannot be recreated accurately. The payroll data from companies, however, can be reported after the fact.
How does this affect the Federal Reserve?
The Fed loses a key piece of information. Its December interest rate decision will rely on September data as the most recent complete picture. This adds uncertainty to their economic assessment.
Has this ever happened before?
A full cancellation of a monthly employment report is highly unusual. It is a direct result of the 43-day federal shutdown, which furloughed the staff who collect this data.
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