Fed loses access to "small non-farm payroll" data
"Fed Whisperer" Nick Timiraos wrote that Federal Reserve officials recently lost access to third-party employment data. Since 2018, the payroll processing company ADP has been providing the Federal Reserve with a dataset containing anonymous employment and income information, covering 20% of the private sector workforce in the United States. The Federal Reserve typically received this data about a week after the fact, making it a timely and comprehensive measure of the employment market conditions. Sources revealed that ADP stopped providing this data to the Federal Reserve after Fed Governor Waller's speech at the end of August drew public attention to the Fed's long-term use of ADP employment data. The specific reasons for this change are not yet clear. In Waller's speech, he cited ADP's data in a footnote, further illustrating his concerns about the slowing labor market. The footnote indicated that preliminary estimates show that the summer hiring situation continues to deteriorate, and the data timeframe exceeds the coverage period of the latest government data.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Russia Authorizes Bitcoin for Foreign Trade in Major Policy Shift
California SB 822 Crypto Law Protects Unclaimed Digital Assets
Mars Morning News | US Government "Shutdown" Continues, Stablecoins' Annual Trading Volume Reaches $46 Trillion, 20 Times That of PayPal
The U.S. government shutdown continues, Bitcoin price rebounds; Meteora founder accused of token manipulation; Hyperliquid Strategies plans to raise 1 billion USD; Tesla’s Bitcoin holdings have yielded an 80 million USD profit; crypto industry leaders discuss regulatory legislation. Summary generated by Mars AI. This summary is produced by the Mars AI model, and the accuracy and completeness of its content are still being iteratively updated.

Three major exchanges in the Asia-Pacific region resist "crypto treasury companies"
Several Asia-Pacific countries, including Hong Kong, India, Mumbai, and Australia, are resisting corporate hoarding of cryptocurrencies.

Trending news
MoreCrypto prices
More








