Oregon Left Waiting for Job Data as Trump Administration Blocks Unemployment Report

The Trump administration has not released the latest unemployment figures because of the federal government shutdown, forcing the Oregon Employment Department (OED) to adjust its monthly economic report and media activities.

The OED states that it will share whatever data is available in a statewide press release tomorrow (Wednesday), although the unemployment rate and nonfarm payroll data are unavailable.

Job Losses Have Been Steadily Growing For Months

The U.S. national unemployment rate has been steadily increasing for months, and as the largest economy, investors and economists rely on the monthly employment figures from the Bureau of Labor Statistics (BLS) to map short-term financial forecasts.

The unemployment rate in Oregon was reported as 5% in July, having steadily climbed month-on-month since the COVID-19 pandemic. The national unemployment rate that month was 4,2%.

According to other news sources, the unemployment data for September has been collected by the BLS, but the Trump administration refuses to release this information.

Speculation of a Looming Recession

This reaction has fueled speculation of a looming recession, and is gaining traction because of President Donald Trump’s decision in August to fire the commissioner of the BLS, claiming that the agency had ‘faked’ official data. He made this move as unemployment figures continued to grow nationwide.

U.S. firms are said to have lost 32,000 jobs in September, according to ADP, a payroll processing company, contrary to Wall Street expectations of 45,000 job growth.

Adding to the gloom, ADP has revised its August employment rate from an increase of 54,000 to a decrease of 3,000 positions.

Takeaway

In the meantime, E.J. Antoni has withdrawn his nomination as commissioner of the BLS, following criticism over his lack of experience. He was President Trump’s choice.