Although the longer-than-expected federal government shutdown in the US has ended, its effects are still being felt.
This situation led to the cancellation of the October employment report, a key indicator for the Fed’s interest rate decisions, while the November employment report, previously scheduled for release on December 5th, was postponed to December 16th.
At this point, the Bureau of Labor Statistics (BLS), part of the U.S. Department of Labor, stated that for the first time in its history, it would not be releasing October employment data.
While October’s non-farm payroll data, expected to provide clues about the Fed’s future policy, was not released, the November employment report was published today.
The data, which is normally released on the first Friday of each month, was delayed until today due to the effects of the government shutdown.
The data released for November is as follows:
Non-farm payrolls data: Reported 64k – Expectation 40k – Previous 119k
Unemployment data: Announced 4.6% – Expected 4.5% – Previous 4.4%
Bitcoin’s reaction to the incoming data was as follows:
*This is not investment advice.