The ADP jobs report shows job losses piling up the second half of this year. In related news the Trump administration is vowing not to release any GDP or jobs data ever. Something no administration has ever threatened. Clearly the administration thinks no news is better than the bad (horrible?) news that is coming.
"Democracy dies in darkness."
WASHINGTON, Nov 11 (Reuters) - U.S. firms were shedding more than 11,000 jobs a week through late October, payroll processor ADP said on Tuesday in its latest real-time estimate of job market trends.
"The labor market struggled to produce jobs consistently during the second half of the month," said Nela Richardson, ADP's chief economist. ADP recently began issuing weekly payroll estimates as a way to augment its monthly jobs report.
ADP's payroll data is among several private-sector sources that policymakers have referred to as an alternative - if not a full substitute - to the official statistics that have been missing during the current U.S. government shutdown.
"The... October CPI and jobs reports likely never being released," Leavitt said. "All of that economic data released will be permanently impaired, leaving our policymakers at the Fed, flying blind at a critical period."
With the spending impasse appearing to be near an end, White House press secretary Karoline Leavitt told reporters that part of the fallout could be lasting damage to the government's data collection ability.
Jobs report data should be easy to collect belatedly because it involves asking business for hard numbers, according to Jeffrey Roach, chief economist at LPL Financial. In fact, he said the BLS could likely get multiple months' worth of data during one collection period if needed.
"Democracy dies in darkness."
WASHINGTON, Nov 11 (Reuters) - U.S. firms were shedding more than 11,000 jobs a week through late October, payroll processor ADP said on Tuesday in its latest real-time estimate of job market trends.
"The labor market struggled to produce jobs consistently during the second half of the month," said Nela Richardson, ADP's chief economist. ADP recently began issuing weekly payroll estimates as a way to augment its monthly jobs report.
ADP's payroll data is among several private-sector sources that policymakers have referred to as an alternative - if not a full substitute - to the official statistics that have been missing during the current U.S. government shutdown.
"The... October CPI and jobs reports likely never being released," Leavitt said. "All of that economic data released will be permanently impaired, leaving our policymakers at the Fed, flying blind at a critical period."
With the spending impasse appearing to be near an end, White House press secretary Karoline Leavitt told reporters that part of the fallout could be lasting damage to the government's data collection ability.
Jobs report data should be easy to collect belatedly because it involves asking business for hard numbers, according to Jeffrey Roach, chief economist at LPL Financial. In fact, he said the BLS could likely get multiple months' worth of data during one collection period if needed.
