The October jobs report in the United States will be released without an unemployment rate reading, according to National Economic Council director Kevin Hassett. The absence of this key data point is due to the government shutdown which prevented the household survey from being conducted during October. This survey is essential for calculating the unemployment rate.
Hassett explained that the report will still include the jobs component, derived from a survey of businesses. However, the lack of the household survey means that a complete picture of the employment situation will be unavailable for the month. The October jobs report was originally scheduled for release by the Bureau of Labor Statistics (BLS) on November 7, but was delayed due to the shutdown.
Speaking at the White House, Hassett indicated that the September report, initially due on October 3, might be released next week. Data collection for the September report was completed before the government shutdown commenced on October 1. The BLS, responsible for compiling and publishing these reports, is expected to release an updated schedule soon.
The jobs report comprises two surveys: one of businesses providing payroll data and another of households determining the unemployment rate. While business data is often electronically recorded and readily available, collecting household employment information retroactively presents challenges, especially when relying on individual recall of employment status during a specific week.
