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>>Bureau of Labor Statistics employees are returning to the office to work on the September Consumer Price Index, even with the current government shutdown.

Bureau of Labor Statistics employees are returning to the office to work on the September Consumer Price Index, even with the current government shutdown.

crypthub

2 days ago

CPI Release Prioritized

The Bureau of Labor Statistics is recalling staff to finalize and release the September consumer-price index (CPI). The CPI is a key inflation gauge for the Federal Reserve and essential for calculating Social Security cost-of-living adjustments. The report was delayed due to the government shutdown but will now be released this month, avoiding significant disruption. Its availability is vital for maintaining economic stability.

Economic Data Impacted

The government shutdown has significantly hampered the release of crucial economic data. Reports from the Census Bureau and the Bureau of Economic Analysis, including GDP estimates, remain unavailable. Economists are operating with limited information, making informed decisions challenging. The shutdown is projected to negatively impact gross domestic product.

Shutdown Strategy and Layoff Threat

The ongoing shutdown stems from a congressional impasse on a spending plan. President Trump is employing a strategy focused on Democratic constituencies, including threats of federal employee layoffs. Potential layoffs pose further challenges for agencies and impact the certainty of back pay for furloughed workers. This situation deviates from previous shutdowns.