BLS cancels October jobs report

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There is going to be a forever reminder of the US government shutdown on the chart. As rumored, the BLS won't release the October jobs report.For the establishment survey, which is the headline number in non-farm payrolls, that number for October will be included on Dec 16 when the November report is released. However the household report for October couldn't be done, so there will be a blank page.There's an important detail here, and it's the date. The Dec 16 date is after the Dec 10 FOMC meeting. That means the Fed won't get October or November jobs data beforehand. Powell indicated that it was better to drive slowly in the fog at the last FOMC, which is a hint that they won't cut without the data. The implied probability of a December cut is down to 30% and moved lower on this.Perhaps more notably, the market is pricing in a 22% chance the Fed won't cut in December or January. Previously at cut over the two-meeting span was nearly fully priced in.In other housekeeping, the October JOLTS report will be released on December 9. This article was written by Adam Button at investinglive.com.