Labor Department Data Loss Raises Concerns Over Economic Forecasting

Following a government shutdown, the U.S. Labor Department has admitted that some essential economic data is irretrievably lost, resulting in delayed surveys and incomplete data collection. This issue has added complexity to the Federal Reserve’s upcoming meeting, where officials are deliberating whether to lower interest rates for the third consecutive time. The missing data may have substantial consequences for the central bank’s ability to accurately assess economic conditions and make informed policy decisions.