
NoâŊJobsâŊReportâŊAgain,âŊButâŊTheseâŊNumbersâŊShowâŊHowâŊtheâŊU.S.âŊEconomyâŊIsâŊDoing
âĒBy ADMIN
Because of the ongoing U.S. government shutdown, investors are facing a rare miss of their second straight monthly jobs report from the U.S. Bureau of Labor Statistics â leaving both the markets and the Federal Reserve without their usual labourâmarket signal.
But while the direct employment data is off the table, other indicators are stepping up. Creditâcard spending ticked up nearly 1% in the week ending Oct.âŊ25. Regional data from banks suggest consumer activity remains steady despite the shutdown. On the business side, major tech firms such as Amazon Inc., Meta Platforms, Inc. and Microsoft Corporation continue to invest aggressively in AI, buoyed by healthy profits.
FederalâReserve officials are cautiously optimistic: though labourâmarket growth has been soft, jobless claims remain low and jobâopening surveys show no major downturn. With the shutdown presumably ending soon and a strong holidayâshopping season on the horizon, some analysts expect the economy to pick up steam toward yearâend â though the benefits may lean toward wealthier households, reflecting a âKâshapedâ recovery.
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