00:00It's Benzinga, bringing Wall Street to Main Street.
00:02U.S. economy shed jobs in October as private data pointed to weakening labor conditions
00:06amid a prolonged government shutdown, according to Reuters.
00:09Revolio Labs reported 9,100 job losses in October, including a 22,200 decline in government payrolls,
00:16though it's unclear if the drop reflects buyouts or furloughs from the shutdown.
00:20Chicago Fed said the October jobless survey overlapped with the ongoing government shutdown,
00:24which has complicated labor market estimates.
00:26The CBO projected the unemployment rate could rise by 0.4 percentage points
00:30if all 670,000 furloughed federal workers were counted as temporarily unemployed.
00:35The ongoing government shutdown has delayed the Labor Department September and October employment reports
00:40with uncertainty over their eventual release.
00:43Analysts warn that even small businesses are now scaling back hiring.
00:46For all things money, visit Benzinga.com.
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