TechFlow, Nov 13 — White House National Economic Council Director Hassett said the October jobs report will not include a reading on the unemployment rate. Hassett stated: "The household survey was not conducted in October, so we'll only get half of the jobs report. We'll receive data on job placements, but not the unemployment rate, and this situation will last only one month." The U.S. nonfarm payrolls report consists of two surveys—one surveying businesses (producing the headline nonfarm payroll number) and the other surveying households (responsible for the unemployment rate). While many businesses maintain records and report data electronically, it would be more difficult to retrospectively contact workers and ask them to recall their employment status during a specific week in October. (Jinshi)
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