BLOG

Labor Department: Hurricane Sandy Should Not Disrupt Release of New Employment Data

Labor Department: Hurricane Sandy Should Not Disrupt Release of New Employment Data

On Monday, Carl Fillichio – a spokesman for the U.S. Department of Labor – put out a press release, in which he asserted that the organization intends to release its Employment Situation report for the month of October, as planned, at 8:30 a.m., on Friday, November 2.

There is some speculation coming from media outlets regarding the prospect of a delay in the report’s release. As The Washington Post points out, the federal government was essentially shut down on Monday and the final tabulation of the net change in job numbers could be slowed down if the Department of Labor is unable to resume operations quickly enough.

“The employees at the Bureau of Labor Statistics are working hard to ensure the timely release of employment data on Friday, Nov. 2,” said Fillichio. “It is our intention that Friday will be business as usual regarding the October Employment Situation report.”

This month’s numbers are highly anticipated by many analysts and observers, in light of the splash created by the unexpectedly positive figures contained in the September jobs report.

Economists surveyed by Bloomberg produced a median forecast in which there will be a net increase of 125,000 jobs reported, while the official unemployment rate is expected to increase slightly from 7.8 percent to 7.9 percent.

This prediction points to slow growth, but ongoing job creation would still give business leaders a reason to remain at least somewhat optimistic.

However, with uncertainty still clouding the economic recovery, it is critical for companies to ensure they are prepared for all possible outcomes. Recruitment firms can help businesses bolster their executive teams through a targeted financial professional search.

ExecutionistLabor Department: Hurricane Sandy Should Not Disrupt Release of New Employment Data