The Federal government shutdown will suspend the flow of government-generated labor statistics, leaving investors and policymakers without the September jobs report, the latest Job Openings and Labor Turnover Survey (JOLTS), and updated wage data. With the Bureau of Labor Statistics dark, Wall Street and the Federal Reserve are turning to private sources to track the strength of the labor market.
ADP’s monthly payroll report is considered the closest proxy for nonfarm payrolls, although its methodology often produces different results from the BLS counts. High-frequency data from Homebase, a scheduling and payroll platform for small businesses, offers near- real-time information on worker hours and shifts and an early signal of hiring slowdowns or rebounds.
Job postings on Indeed and LinkUp afford a view into hiring demand across industries and a weekly and monthly read on whether companies are pulling back on hiring.
www.barrons.com
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