The economist says that private data does not mainly show job growth in September

The leading economist warns that creating job opportunities in the American economy slows down as a continuous neighborhood The government closing Preventing the issuance of the job report in September last week.

Mark Zandy, the chief analytical economist in Modi, wrote on Sunday in a post on X, noting that the closure was deprived of release September job report From the Bls Statistics Office as scheduled on Friday, causing data monitors to focus on private data reports in the absence of BLS data.

“Although it is not a substitute, there are private sources of job data,” Zandi wrote to Revelio Labs, developing a report that appreciates job growth using professional networking sites such as LinkedIn as a reference point. “The data indicates that employment increased by 60,000 in September, and is almost entirely focused in the education and health care sector.”

He pointed out that “even this dump gain is likely to be things, as Review data has recently been revised in recent times, and more data comes. As required, job growth last month was almost exclusively in California, New York and Massachusetts.”

The job report is delayed in September due to the government’s closure- what was expected to show?

Zandy referred to the ADP special job report last week, which showed a decrease of 32,000 jobs in September, with job gains concentration in Health care sector In very large companies.

He pointed out that the smaller companies “invoked through customs tariffs and restricted immigration policies,” while the total economy most likely witnessed a greater decrease in reporting because “government employment has also fallen a month given the continuous discounts related to Doge.”

“The Revyio and ADP recruitment account for September indicates that there was no growth in the job during the month,” he wrote.

The private sector lost 32,000 jobs in September, says ADP

“Other labor market data is due to this estimate, including the jobs of the Conference Council easily in exchange for obtaining questions in the monthly Consumer confidence reconnaissance. Zandy added that he decreased and is now low as it was since the exit of the epidemic in early 2021.

“The bottom line is that the absence of BLS Jobs does not represent a serious problem Economy health And make good political decisions. But the special sources of job data fill in an impressive information gap, at least at the present time. “This data shows that the labor market is weak and strikes,” Zandy wrote.

Golsby of the Federal Reserve says that the central bank has other data options if the closure breaks the economic reports

The JOBS report is expected to appear in September, “it is scheduled to be issued on Friday before the start of the government’s arrest on Wednesday, an increase of 50,000 jobs, according to the economists that LSEG included. In addition, and Unemployment I was able to remain unchanged at 4.3 %.

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Once the government closure is over, BLS is expected to issue a job report in September – although it may not immediately follow the resumption of government financing because the agency will likely need some time to complete the report before publication.