When the federal government enters the first day of a closure, around 580,000 federal workers are on vacation, and the White House says that some could be released.
“We have to put some people off when the closure continues,” said Vice President JD Vance during a Press Conference of the White House on Wednesday.
Agencies that publish significant economic data will suspend their reports. From Friday, the monthly job report will not emerge from the Bureau of Labor Statistics of the Ministry of Labor. Inflation values ​​that are due in mid -October will also be affected.
“The collection of this data is interrupted while we speak,” said Mark Hamrick, Senior Economic Analyst, bank rate.
According to Hamrick, the lack of data can affect decision -making for companies, households and the Federal Reserve, which meets at the end of the month to make interest decisions.
“You will make your decision based on the available information in one way or another, but it increases the risk of making something that is less than an optimal decision,” said Hamrick.
The closure takes place when the economy lost 32,000 jobs in the private sector in September, as can be seen from a report by the salary accounting company ADP.
“It is now a very bad time to close a government because we are in a very bad economy,” said Ted Lieu.
Rep. Lieu says that the Americans are already hurt and that will make things worse.
“Trump’s economy crushed the Americans financially,” he added.
But Alabama’s Republican senator, Tommy Tuberville, says that people shouldn’t be concerned.
“It won’t take that long anyway. Live your life on. Don’t worry about the nonsense up here. We will come together at some point and say goodbye to a budget or a CR,” said Sen. Tuberville.
Hamrick says he does not believe that the closure will have enduring economic effects, “as long as it doesn’t take long”.
