The Eco Data to Watch Without a US Jobs Report

Labor Market Insights - The current labor market situation is characterized by a lack of job creation or loss due to the absence of data from the government shutdown, with alternative data sources providing varying estimates [2][4] - Bloomberg consensus anticipated an addition of 53,000 jobs, while other sources like Rev Elio suggested 60,000 jobs, and ADP indicated a loss of 32,000 jobs [2] - The Chicago Fed's unemployment proxy indicated a stable rate of 4.3%, suggesting no significant changes in the labor market [2] Impact of Government Shutdown - The government shutdown has resulted in no reports being generated by the Labor Department or the Bureau of Labor Statistics, affecting the transmission of data to the White House [5] - There is concern that if the shutdown continues, the collection of jobs and CPI data could be jeopardized, impacting future economic assessments [3] Federal Reserve Guidance - In the absence of concrete data, the Federal Reserve may rely on anecdotal insights from CEOs and companies to guide their decisions, potentially leading to a continued expectation of interest rate cuts in October [6] - The uncertainty surrounding the labor market and economic data may influence the Federal Reserve's approach to monetary policy [6][7]