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MYSTERY: LABOR DEPARTMENT MAY DELAY RELEASE OF OCTOBER JOBS’ REPORT

by on October 29, 2012

http://blogs.wsj.com/economics/2012/10/29/labor-department-may-delay-jobs-report/

UPDATE: The U.S. Labor Department on Monday said it is “working hard to ensure the timely release” of the October jobs report, saying it intends to released the report on schedule Friday despite Hurricane Sandy.

“It is our intention that Friday will be business as usual,” said Carl Fillichio, a senior press advisor at Labor. Mr. Fillichio’s statement provided clarity to an earlier Labor statement that said the agency would assess how to handle data releases this week after the “weather emergency” is over.

Friday’s employment report will be the final read on the labor market ahead of the November elections. Initial reports that a delay was possible briefly fueled speculation that the jobs data, good or bad, might not be revealed until after the elections.

Federal government offices in Washington are closed Monday and may be shut again Tuesday due to the storm.

The Labor Department is also scheduled to release its third quarter employment cost index on Wednesday, and the third quarter productivity and weekly jobless claims reports on Thursday.

The most closely watched is Friday’s jobs report. In September, the rate fell to 7.8%, the lowest level since President Barack Obama took office in January 2009. Meanwhile, the economy added 114,000 that month.

The surveys from which the October employment report will be derived were already conducted earlier this month. The unemployment rate comes from a survey of 60,000 households and the jobs figures comes from the establishment survey of 141,000 business and agencies.

It is unclear, however, whether additional prep work needs to take place before the employment data is made public. The shutdown of the Washington region’s public transportation system and strong winds and heavy rain could make it difficult for workers to report to their offices.

If the figures were delayed, it wouldn’t be the first time unusual circumstances pushed back the release of important economic data. A government shutdown in 1996 delayed multiple releases, including the jobs and gross domestic product reports.

The releases are also sometimes moved from their typical release dates due to a holiday or religious observance, but those schedules are known well in advance.

 

2 Comments
  1. Anonymous permalink

    Thousands upon thousands are going to go from a 40 hour workweek to 35 hours per week or less so that medical care does not have to be provided. Any scheme developed by a man can be circumvented by just a little bit smarter man. Politicians created this scheme, businessmen are obviously a helluva lot smarter.

  2. Anonymous permalink

    So I’m sure this ISN’T political, right? Just because it’s the last jobs report that will come out before the 2012 Presidential Election next week???

    Also a Correction is Required for this Article: The rate only fell to 7.8% in September because the State of California “forgot” to report their numbers! It’s been WELL ABOVE 8% for the past 44 months!!!

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