The federal government shutdown canceled a second straight jobs report, but private data sources suggest the labor market has weakened modestly since summer.
Tariffs and uncertainty were already making the economy hard to read. The loss of government data during the shutdown has made the situation much worse.
Since the shutdown began, the Bureau of Labor Statistics has not been gathering the new data it needs to produce future reports, since its staff is furloughed.
The Bureau of Labor Statistics is calling back some employees to produce the Consumer Price Index for September. That data is needed to calculate the annual cost-of-living adjustment for Social Security beneficiaries.
The central bank’s cautious approach to defending itself against President Trump is drawing scrutiny as the institution’s independence comes under threat.