News

Jinse Finance reported that due to the failure of Democrats and Republicans to reach an agreement on a short-term spending plan, the U.S. federal government officially shut down at 12:01 a.m. Eastern Time on Wednesday. The government shutdown will impact the economy in various ways, ranging from hundreds of thousands of federal employees being unable to receive their salaries on time to delays in the release of key economic indicators, with a wide scope of influence. However, the duration of the shutdown is crucial—the longer it lasts, the greater the blow to economic growth and to businesses that rely on the daily operations of the federal government. This government shutdown comes at a sensitive time for the U.S. labor market: throughout the summer, U.S. job growth has stagnated. Due to the suspension of government data department staff, the September non-farm payrolls report originally scheduled for release this Friday is unlikely to be published on time, causing economists and investors to lose this important reference indicator. (Golden Ten Data)