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US number crunchers absence means job data unknown


US number crunchers absence means job data unknown


Nobody knows what is happening to the Labour market in the US.

The US budget deadlock and the shutdown of government offices includes those that release official data on the state of the economy

As a result the September employment figures were delayed from their regularly scheduled release on Friday.

That means investors on Wall Street, and around the world, were without any guidance.

They – and US policymakers – use the information to gauge the health of the country’s economy, so this adds uncertainty to the Federal Reserve’s future action on reducing its stimulus programme.

“The Fed will not be able to cut the stimulus, because they won’t have the employment data. So they can’t come up with any analysis. What if the unemployment rate drops?,” said Phillip Strieble, senior commodities broker at R.J. O’Brien in Chicago.

The next significant report that would be affected by the impasse is on import prices, and is due on October 10.

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