Delays in US Jobs Data Weaken the Quality of US Policymaking
By Dennis Shen, Published November 21, 2025
The October report was canceled. The Bureau of Labor Statistics did not drop separate payroll numbers. They merged some figures into November’s report. This cancellation happens for the first time. A long government shutdown and deep political splits pushed this decision.
Impact of Data Delays on Economic Transparency and Market Stability
The missing report hides the real state of the market. Market players need clear data to know the economy now. Uncertainty grows as news of the October inflation report stays silent. The gap in data makes risk hard to judge at a sensitive point. Reliable numbers help keep markets calm and guide sound monetary and fiscal steps.
Consequences for Policymakers and the Federal Reserve
The November employment report comes on December 16. That is after the Federal Reserve’s rate pick on December 10. This delay stops the Fed from using the freshest job numbers. In its place, policymakers must use state data and private studies. Such numbers do not show the full picture of the economy.
Insights from the Belated September Jobs Report
The September report, shared late on November 20, shows the job market before the shutdown. Employers added 119,000 jobs that month. This number beat forecasts and followed a loss of 4,000 jobs in August. The labor force still grew despite worries over fewer workers. New jobless claims dropped to 220,000, matching their lowest level since September. The unemployment rate edged up to 4.4% from 4.3%. Payroll counts for July and August were lowered by 33,000 jobs in total. Claims for unemployment benefits rose again in early November. Overall, the data point to a stronger job market than first thought, even if these numbers are already old.
Looking Ahead
The Federal Reserve now faces a tough choice without fresh November data before its December 10 meeting. It must draw much from side sources and careful judgment. Swift and solid job numbers keep markets smooth. The recent delays push policymakers into a hard spot in one of the world’s most-watched economies.
About the Author:
Dennis Y. Shen is the Chair of the Macroeconomic Council and Lead Global Economist at Scope Ratings. Based in Berlin, Germany, he runs credit checks across many sectors, such as sovereign, public agency, financial groups, companies, and structured finance.
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Disclaimer: This article is for informational purposes only and does not serve as financial advice. Please talk with professional advisors before making any financial decisions.
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