January 1, Government Shutdown Halts Key Jobs Report

Wyatt’s Take

• No September jobs report from Washington
• Fed left guessing on next interest rate move
• White House, Fed, and workers in the dark

The government shutdown means America didn’t get its September jobs report. Folks who rely on these numbers, from everyday workers to the Fed and the White House, are flying blind this month.

Estimates say 50,000 jobs were added in September, more than last month but far less than a year ago. Inflation sits at 2.9% over the last twelve months, which is up from earlier this year.

With the shutdown, only one out of over 2,000 Bureau of Labor Statistics workers is still at work. The Antideficiency Act blocks that employee from releasing the report, since it’s not seen as an emergency.

That jobs report is crucial for the Federal Reserve, which has to decide on interest rates. At the last meeting, Chair Jerome Powell said,

“You know, it is such an unusual situation…there’s no risk-free path.”

Powell added that major inflation fears have calmed, so the Fed lowered its main rate by a quarter point in September.

Prediction markets see another rate cut coming soon. Normally, the Fed wouldn’t cut if inflation is high. But with a weaker job market, it looks like another trim is on the table.

Things have been tense at the Fed beyond just rate decisions. President Trump called for the removal of Governor Lisa Cook over mortgage fraud accusations, but she stood her ground, saying the Fed is independent.

Trump has a long-running feud with Powell, publicly criticizing him on Truth Social, calling him an “OBSTRUCTIONIST!” and complaining about expensive construction at the Fed.

Earlier this year, Trump fired the Bureau of Labor Statistics’ commissioner and tried to replace her with EJ Antoni, but that plan was scrapped.

Until the government opens back up, Friday’s jobs numbers aren’t coming, leaving the Fed to use other sources. Atlanta Fed President Raphael Bostic said today,

“We have a survey center…we ask CEOs what’s your hiring plan for the next twelve months, what’s the likelihood you will reduce prices in the next quarter to get an idea of what actual decision makers are doing.”

Without clear numbers, America’s economic future just got muddier. There’s more uncertainty for families, workers, and businesses on Main Street.

Wyatt Matters

The loss of key government data leaves working Americans unsure about their economic outlook. When leaders and institutions are caught in fights and bureaucracy, it’s regular folks and small businesses across Middle America who feel the pinch first. In times like this, truth and stability matter most.

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