If a U.S. government shutdown delays the September jobs report, the FOMC meeting will face a data gap.
Jinse Finance reported that according to the contingency plan released earlier this year by the U.S. Department of Labor, if the federal government shuts down, the September employment report originally scheduled for release next Friday will be delayed. The specific scope of the government's shutdown impact is still unclear, as most government agencies—including the Bureau of Labor Statistics, which is responsible for compiling the monthly employment report—have not yet publicly updated their contingency plans. If Congress fails to pass the spending bill by next Tuesday, these agencies will operate according to their contingency plans. According to a plan updated by the Department of Labor in March last year, once a shutdown occurs, all data collection work and planned data releases will be suspended. If the government shutdown continues and the Bureau of Labor Statistics delays data releases, the Federal Reserve will lack several key employment and inflation economic data before its next policy meeting on October 28-29, which will undoubtedly increase the risks of policy-making.
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