No U.S jobs data reported this week due to the unremitting government shutdown!!! As a result of the constant government shutdown this week the US Bureau of Labor Statistics did not collect or issue economic data and therefore the jobs report was not released - knowing that this strongly awaited data delivers a concrete and current health of the economy and therefore more uncertainty is spread around tapering at the end of the year. In fact the present shutdown government in the U.S is only creating deep-rooted disadvantages to the government bodies, public and private institutions and the whole American public: “everybody faces real economic hardship” as attested by the U.S president this past week. And accordingly mainly strong sentiments of pessimism was sensed on a local and global scale throughout overall stock and commodities market to watch more than once the U.S, E.U and Asian shares plunged throughout the day. Now Obama blamed the present crisis on the House Republicans, whom according to him are the root to overall disaster that occurred so far in the country since that that have taken over the House of Representatives. And accordingly he attested this week publicly that because of the House Republicans crisis happen every three months and confirmed that he do not mind negotiating with them yet they shouldn’t “negotiate by putting a gun to the other person`s head or, worse yet, by putting a gun to the American people`s head by threatening a shutdown. However some labor data was released this past week as a report showed U.S. private-sector employers added lower than forecast jobs in September, raising worries in markets amid the current concerns from a U.S. government shutdown. Private employers added 180,000 jobs last month, after adding a revised down 159,000 in August, according to data today from the ADP Research Institute in Roseland, New Jersey Plus number of Americans who filed for unemployment insurance benefits were fewer than expected in the week leading up to the government shutdown; weekly jobless claims were release despite the partial government shutdown. The continuous slowdown in firings indicates a pickup in hiring is soon to follow, which would heavily boost household incomes and spending, in addition to boosting consumer confidence as growth in the U.S. is showing notable signs of strength in the second half of 2013. On the other hand this week a report showed that the U.S. services sector recorded a narrowed expansion in September, missing analysts’ forecast, to add to the current government shutdown worries; ISM mom-manufacturing composite fell to 54.4 last month, compared with both prior and expected readings of 58.6 and 57.0 respectively. The US Bureau of Labor Statistics did not collect or issue economic data and therefore the jobs report did not get released this week due to the partial government shutdown. source link: bit.ly/1fc0HPV
Posted on: Mon, 07 Oct 2013 06:42:05 +0000
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