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illuminem summarises for you the essential news of the day. Read the full piece on The Wall Street Journal or enjoy below:
🗞️ Driving the news: With the U.S. Bureau of Labor Statistics shuttered amid a federal government shutdown, investors and analysts are turning to unofficial indicators — and the picture isn’t encouraging
• Private-sector data from Wall Street firms and independent surveys suggest the labor market is weakening, raising concerns about a potential slowdown in the broader economy
🔭 The context: The absence of official labor data comes at a precarious moment: while inflation pressures persist, employment strength had been one of the key pillars supporting consumer demand and investor confidence
• The data blackout has forced policymakers, economists, and markets to rely on alternative metrics from sources like payroll firms, business sentiment surveys, and high-frequency indicators — many of which now signal declining hiring activity and growing pessimism, particularly in retail, manufacturing, and logistics
🌍 Why it matters for the planet: A softening labor market can impact public and private investment in sustainability and clean technology
• Job growth and economic confidence often underpin government spending on climate infrastructure and consumer uptake of green products
• A downturn may stall progress on energy transition projects, delay corporate climate investments, or divert attention from climate legislation as economic stability becomes a more immediate priority
⏭️ What's next: If the shutdown continues and official data remain unavailable, markets will increasingly rely on fragmented and potentially less accurate sources of information, increasing volatility and policy uncertainty
• Federal Reserve decisions on interest rates could become more reactive to anecdotal trends, and businesses may delay hiring or investment
• The longer the blackout persists, the harder it becomes to gauge real-time economic health — just as crucial climate, infrastructure, and employment decisions loom for 2026 budgets
💬 One quote: “A host of alternative jobs data from Wall Street are pointing in the same direction: The U.S. labor market is losing steam.” – Konrad Putzier, WSJ
📈 One stat: In the latest WSJ-NORC poll, women reported significantly more negative views of the economy than men, but the data now show rising pessimism among men as well
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