Here's How Bad Jobs Data Appears As Federal Data Blackout Continues

Labor Market Overview - Several firms and economists have released estimates indicating a loosening labor market amid the ongoing government shutdown, with many reporting a decline in job growth [1][2][3][5] - The Carlyle Group estimated that 17,000 jobs were added in the U.S. last month, which is lower than the 22,000 nonfarm jobs reported by the Bureau of Labor Statistics (BLS) for August [1] - Bank of America analysts noted a 0.5% annual payroll growth in September, down from previous months' growth rates of 0.85% to 0.97%, suggesting a potential increase in unemployment [2] - Goldman Sachs reported an underlying job growth tracker indicating 80,000 jobs added in September, but highlighted a loosening labor market with more workers than available positions [3] - Revelio Labs reported 60,000 jobs added in September, primarily in education and health services, despite a broader decline in job openings [4] Employment Trends - Challenger, Gray & Christmas reported a 58% decline in new hires this year compared to the previous year, marking the lowest level since 2009, with over 202,000 workers cut in Q3 [5] - ADP reported a decrease of 32,000 private-sector payrolls in September, the largest decline since March 2023 [5] Economic Projections - Economists project the unemployment rate to settle at 4.3% for September, with Wall Street estimating about 50,000 nonfarm jobs added last month [7] - The Federal Reserve indicated a substantial weakening of the labor market, with rising unemployment rates expected [8] Consumer Sentiment - Surveys from the University of Michigan and the Conference Board show increasing pessimism among Americans regarding job availability, with only 26.9% of consumers stating jobs are "plentiful," the lowest since February 2021 [10]