Possibility the Nonfarm Payroll report will be published, despite potential US government shutdown

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The financial world is reeling with news that due to the potential US government shutdown there may not be a ForexLive NFP T-shirt competition next week.

George Soros said: “Bulls make money, bears make money, but only the chosen few have a ForexLive T-Shirt”

US President Barack Obama has blamed Republicans for endangering the chance for all Americans (and indeed, citizens of the world) to win the coveted prize.

House Speaker John Boehner, in a contradictory statement, blames Democrats.

Acrimonious negotiations continue.

It may be possible that the NonFarm Payroll report, scheduled for release October 4 , could still be published despite a government shutdown:

In a memo from Bureau of Labor Statistics Commissioner Erica Groshen to her superiors, Ms. Groshen said the administration could authorize the department to release a “principal federal economic indicator” after a shutdown occurs. The employment report, scheduled for release next Friday, is one of those indicators.

  • The Office of Management and Budget could authorize a release of certain economic data and empower BLS to assemble a small staff in order to publish the report.
  • Former BLS Commissioner Keith Hall said this week that an expedited release of the jobs report might be necessary because by Tuesday government analysts will likely have already calculated September’s unemployment rate. The survey that determines the rate was conducted earlier this month.
  • This is the only Nonfarm Payroll report available before the FOMC October meeting, and there is also the Job Openings and Labor Turnover Survey (JOLTS) scheduled for release on October 8, which would also be subject to non-release should there be a government shutdown

More here.

Also:

Will we get a Nonfarm payroll employment report for September?

US government shutdown could cancel economic data releases next week

Author: Eamonn Sheridan

Eamonn Sheridan worked with Bankers Trust Australia for 13 years as a Spot foreign exchange dealer, trading across all major currencies and all time zones. He rose to a Vice President position, running spot operations during the busy European time, leaving the bank just prior to it being sold to concentrate on running his own business in the ‘real world’! The markets, however, had him hooked – he continued to trade equities, CFDs and then on to futures, giving him broad experience across financial markets. He is now active in FX and equity index futures as well as writing for ForexLive™. Eamonn is a graduate of The University of Melbourne in Australia and lives in New South Wales.

2013-09-28T23:27:03+0000

All|Asia Pacific

government shutdown|NFP|non-farm payroll

Eamonn Sheridan

3 Comments

  1. Can’t let those per-revison numbers go to waste…

  2. those edited paragraphs just made me shat myself :D
    Boehner(pronounced B*ner?) blamed the democrats :D

  3. Nice laff to start what will be an utterly unlaughable week. TY Eamonn.

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