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US jobs delay could impact fed policy
The September US jobs figures will be released on October 22. It had been due out on October 4 but was delayed due to the US government shutdown.
Just 169,000 jobs were added in August and economists expect September to be just as tepid, forecasting around 180,000.
It wasn't just payrolls that were delayed, Septembers consumer price index (CPI) is also late. According to the Cleveland Federal Reserve, the CPI will be distorted for at least seven months as a result of the shutdown.
The delay in economic data has implications both for investors and the broader economy. Economists say most importantly it could affect monetary policy by setting back the Federal Reserve's timetable for scaling back its USD 85 billion-a-month bond buying programme.
In June Fed chairman Ben Bernanke said the central bank would probably end its bond buying programme when the jobless rate was around 7 percent.
Mads Koefoed says the delay in releasing the data moves the prospect of tapering back to February.
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