BlockBeats News, October 3rd. According to foreign media reports, the U.S. Bureau of Labor Statistics is not expected to release the nonfarm payroll report on Friday due to the government shutdown. However, recent releases of multiple private sector indicators indicate that hiring in September was weak, layoffs were limited, wage growth was moderate, and labor demand eased somewhat. The data broadly aligns with the low hiring and low layoffs situation seen before the government data pause.
Michael Feroli, Chief U.S. Economist at JPMorgan Chase, said, "Even without the nonfarm payroll report, we can still have a rough understanding of the labor market conditions. Given everything we've seen, I believe the Fed can confidently cut interest rates later this month."