#Economy & #Stocks Review - October Labor Report Cancelled, More Than Meets The Eye

E&S Review

Much of today's economic data, including officially collected and produced time series, is highly unreliable. Statisticians use well-documented techniques such as geometric smoothing, seasonal adjustments, substitution, double counting, and hedonic adjustments to modify economic outcomes dating back to the 1980s. Politicians and central bankers often leverage these techniques for political gain.

Data manipulated by these statistical methods are frequently revised without clear notification to the public, especially when administrations or public policies change.

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October Labor Report Cancelled, More Than Meets The Eye

The Labor Department will not publish October’s monthly jobs report because the government shutdown prevented the Bureau of Labor Statistics from collecting the household survey, which cannot be gathered retroactively. While October payroll data will be folded into the November report—now delayed to December 16—analysts and policymakers will face several more weeks of limited insight into labor market conditions. The shutdown also prompted delays and adjustments to other economic indicators. Meanwhile, numerous September reports, including jobs data and price indexes, will still be released as scheduled, and the JOLTS report for September and October will be combined and issued on December 9.

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