October Jobs Report to Skip Unemployment Rate, Hassett Says
The October jobs report will be released without a reading of the unemployment rate, President Donald Trump’s top economic adviser said Thursday.
“The household survey wasn’t conducted in October, so we’re going to get half the employment report,” National Economic Council Director Kevin Hassett said on Fox News. “We’ll get the jobs part, but we won’t get the unemployment rate, and that’ll just be for one month.”
Jobs data for October has yet to be released due to the government shutdown, which ended Wednesday when Trump signed a law restoring funding for agencies.
The jobs report is composed of two surveys — one of businesses, which produces the main payrolls number, and another of households, which is responsible for the unemployment rate. While many businesses retain their records and report the data themselves electronically, reaching workers over the phone and asking them to recall their employment status for a particular week in October would be more difficult to conduct retroactively.
Source : Bloomberg.com
