The economy is in uncharted territory
Add Axios as your preferred source to
see more of our stories on Google.
Illustration: Lindsey Bailey/Axios
Data went dark this month. The government shutdown is halting the collection and release of statistics tracking the job market, public health and crop production, as well as other economic indicators.
Why it matters: The numbers are critical for understanding what's happening in the U.S., particularly at a moment of rapid change in both government policies and in the job market.
How it works: Businesses use gold-standard government data, like the jobs report, to set wages and make hiring, pricing and investment decisions.
- Investors watch the numbers so closely that they can drive big stock reactions. Policymakers use the data to set minimum wage standards and increase food assistance or other important benefits.
Where it stands: Since the shutdown began on Oct. 1, government agencies have stopped collecting or releasing information about:
The labor market. The Bureau of Labor Statistics didn't release a September employment report and hasn't collected any data in October.
- We don't know the unemployment rate or how many jobs businesses are creating. Few companies appear to be hiring, and job anxiety is skyrocketing.
Public health. Weekly numbers that track how many Americans are coming down with the flu, RSV or COVID-19 haven't been updated.
- Local governments, doctors and Americans are in the dark about illnesses that lead to hospitalizations and the deaths of tens of thousands every year just as respiratory virus season typically kicks up.
Agriculture. The USDA's weekly export sales report and daily sales announcements, and its monthly World Agricultural Supply and Demand Estimates aren't coming out. Farmers and commodity traders are left with little information at the peak of the harvest season and at a time when tariffs are driving much angst, Reuters reports.
Demographic information. The 2024 American Community Survey Public Use Microdata Sample was supposed to be released on Oct. 16.
- It's one of the few publicly available datasets that allows for measurement of economic, demographic and housing trends across small geographic areas and small population subgroups.
- State and local governments use it a lot, along with researchers tracking health equity, immigrant health and more.
Between the lines: This isn't an all-inclusive list.
- And though these should be temporary stops, there is other data that the Trump administration has walked away from permanently: on food insecurity and weather disasters.
Reality check: Some information was too important to skip. On Friday, the BLS released its Consumer Price Index, covering inflation in September — a measure tied to Social Security's Cost of Living Adjustment, which the government said would be 2.8% next year.
- But no data on October has been collected.
What to watch: The GDP report, measuring the growth of the entire economy, won't come out next week if the government is still shuttered, and may wind up delayed even if we see a reopening.
The bottom line: We're in literally uncharted economic territory at a stormy moment.
Go deeper: The lone shutdown economic report has a tariff silver lining
Editor's note: Adriel Bettelheim and Tina Reed contributed reporting
