Labor Department To Bring Back Staff To Work On Consumer Inflation Report Amid Ongoing US Government Shutdown: Report

The Labor Department will reportedly bring back its staff to work on the key consumer inflation report amid an ongoing U.S. government shutdown.

According to a report by CNBC citing a White House official, the department’s Bureau of Labor Statistics (BLS) will “promptly resume” work on the consumer price index (CPI) report for September.

The CPI report was originally scheduled to be released on October 15. The report noted that the department had paused work due to the shutdown. Meanwhile, other economic data from the BLS, such as the latest nonfarm payrolls report, have not been released yet.

The U.S. government shutdown is currently in its 10th day. It started on October 1 after the Congress failed to approve new spending legislation.

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Notably, the CPI data is utilized by the Social Security Administration to calculate the annual cost-of-living adjustments and publish them before November 1.

Meanwhile, a Reuters/Ipsos poll’s findings reveal that Americans blame both the Republicans and Democrats for the ongoing U.S. government shutdown. About 67% of the poll respondents said the Republicans deserved a fair amount or a great deal of blame, 16% said they were to be blamed a “little” for this, while 12% felt the party did not deserve any blame.

On the other hand, 63% believed the Democrats deserved a fair amount or a great deal of blame, 21% said they were to be blamed a “little” for it, while 11% felt the party did not deserve any blame. About 5% of the survey participants did not respond to either query.

Meanwhile, U.S. equities declined in Friday’s midday trade. At the time of writing, the SPDR S&P 500 ETF (SPY), which tracks the S&P 500 index, was down 1.4%, the Invesco QQQ Trust ETF (QQQ) fell 1.9%, while the SPDR Dow Jones Industrial Average ETF Trust (DIA) declined 1.07%. Retail sentiment around the S&P 500 ETF on Stocktwits was in the ‘bearish’ territory.

Also See: IonQ Stock Falls After Company Announces Pricing Of $2 Billion Equity Offering

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