The Labor Department plans to suspend all Bureau of Labor Statistics operations during a potential government shutdown, halting key economic data releases.
As Washington’s partisan standoff deepens, the Labor Department is preparing for a potential halt in economic data if there is a partial government shutdown. The timing is especially sensitive. This week, the department is scheduled to release several closely watched reports that will offer important clues about the economy and inform Federal Reserve policymakers before its October meeting.
WHITE HOUSE SLAMS 911K JOBS REVISION, THE LARGEST ON RECORD, DEMANDS FED RATE CUT In a 73-page contingency plan, the department said that the Bureau of Labor Statistics will "suspend all operations." "Economic data that are scheduled to be released during the lapse will not be released," the plan reads. In a typical month, the agency publishes close to a dozen reports covering areas such as import and export prices, wages and other measures tied to the nation's economy. SHUTDOWN EXPLAINED: WHO WORKS, WHO DOESN'T AND HOW MUCH IT COSTS On Friday, the BLS will release its monthly nonfarm payrolls report, coming amid a notable slowdown in job growth. Each Thursday, the agency also issues its weekly update on initial jobless claims. Looking ahead, the Consumer Price Index , a key gauge of inflation, is set for release on Oct. 15. That report will be the final inflation snapshot available to the Federal Reserve before its Oct. 28-29 policy meeting. INFLATION REPORT DROPS TUESDAY AS ECONOMISTS WARN PRICES ARE GOING UP The government is slated to shut down at 12:01 a.m. ET on Wednesday if Congress fails to approve a funding extension. The Labor Department emphasized that the disruption from the government shutdown would extend beyond scheduled reports, noting that "all active data collection activities for BLS surveys will cease," a move that could delay other releases. GET FOX BUSINESS ON THE GO BY CLICKING HERE It also warned that the agency’s website would go dark during the lapse, with no updates or fixes in the event of technical problems.
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