Jobs Report Stalled by Shutdown
A December employment report that was supposed to be released Friday was delayed, marking another critical bit of economic data that investors and Federal Reserve Board policymakers won’t see because of the 3-week-old shutdown of federal government agencies.
“It’s a tough time for policymakers,” said Leonard Nakamura, economic advisor to the Federal Reserve Bank of Philadelphia. “The longer this goes on, the less likely it is that we can make wise decisions.”
The Labor Department’s jobs report is the latest economic indicator to be postponed by the shutdown. Most analysts had expected a gain of at least 100,000 jobs, but the figure won’t be released until after the government reopens.
The Federal Reserve Board, which isn’t affected by the shutdown, is scheduled to release its report on November consumer installment credit Monday.