Labor Market In Freefall As US Loses 50,000 Jobs In October, Mass Layoff Notices Soar

With the government very likely set to reopen tomorrow after the House votes on the minibus CR now that Senate Democrats folded, we will likely see a flurry of delayed economic data hitting the docket, first of which will likely be the September jobs report, potentially as soon as Friday. It will be stale and will show a labor market that is stronger than the current reality. From there, the October jobs report may not even be published and instead the BLS may just wait three weeks until the November jobs report due at the beginning of December. 

The question now is what will that report show. Well, we can tell you for a fact that it will be ugly, and here's why.