Lack of jobs data due to government shutdown muddies the outlook for hiring and the economy

Core Insights - The government shutdown has delayed the release of the crucial monthly jobs report for September, marking the first such delay since 2013 [2] - The current economic environment is characterized by a halt in hiring, which poses risks to the broader economy, despite continued consumer spending among higher-income earners and some business investments in AI [3][4] Labor Market Conditions - Alternative measures from nonprofits and private-sector companies indicate a job market with minimal hiring and few layoffs, suggesting job security for current employees but challenges for job seekers [4] - ADP reported a loss of 32,000 private-sector jobs in September, with job cuts primarily in construction, manufacturing, and financial services, while sectors like healthcare and IT added jobs [5][6] Unemployment Claims - Goldman Sachs estimated that weekly unemployment claims rose to 224,000, up from 218,000 the previous week, indicating that companies are retaining most of their workforce despite the hiring slowdown [7]