Release of Employment Numbers After Government Shutdown

Following significant delays attributed to a government shutdown, the Bureau of Labor Statistics has published the employment figures for October and November.

On Tuesday, the unemployment rate was reported at 4.6%. This marks an increase of 0.2 percentage points since September 2025 and 0.4 percentage points higher than the same time last year. The data for October was partially included in this release.

“The December jobs report, which will be released early in January ahead of the Fed’s next meeting, is expected to provide a clearer indication of the Fed’s future direction,” a source indicated.

The labor market saw an addition of 64,000 jobs following a loss of 105,000 positions in October. Most of the job losses were associated with the federal government, stemming from the DOGE acquisition program initiated at the end of September. Government workers involved in the procurement remained on the payroll until their scheduled retirements in October.

The report, originally slated for release on December 5, was postponed due to the 43-day government shutdown, which disrupted data collection for both October and November.

Experts have expressed skepticism about the significance of the November employment numbers, given the delays and incomplete data. From Goldman Sachs Asset Management, Kay Haig mentioned, “Chairman Powell indicated last week that the report might be distorted due to the government shutdown, making it less trustworthy for assessing labor market health. The December jobs report is likely to be a more relevant gauge for upcoming Federal Reserve decisions.”

The employment statistics for December are set to be released on January 9th.