What the Government Shutdown Means for Jobs, Economic Output
job-loss2-90x90

With no agreement on a spending bill in sight, the federal government shutdown — the first in nearly two decades — continues to take a toll on employees and economic output. Here’s a closer look at the thousands of workers affected by the shutdown.

On Tuesday night, The White House rejected the GOP plan to re-open certain parts of the government after a spending-bill standoff that will furlough approximately 800,000 federal workers.


The impact of the shutdown is widespread. National parks and monuments, including the Statue of Liberty, are closed to millions of visitors and its employees.

NASA will furlough a majority of employees. The space agency will shut down almost entirely, but Mission Control will stay open for astronauts at the Space Station, according to a statement from President Obama.

Elsewhere, more than half the mine inspectors with the U.S. Mine Safety and Health Administration (MSHA) are also off the job, with 1,400 of the agency’s 2,335 employees furloughed nationwide, The Associated Press reports.

Other reports spotlight the shutdown’s financial toll. IHS Global Insights estimates that the shutdown equates to $1.6 billion a week in lost economic output. NBC News reports that the loss comes to $300 million a day, or $12.5 million per hour.

Nationwide job data will also be affected. The U.S. Department of Labor’s Non-Farm Payroll Report — reflecting the economy’s growth, including GDP — will be delayed with the continued shutdown.

“All survey and other program operations will cease and the public website will not be updated,” Erica Goshen, the commissioner of the Bureau of Labor Statistics, said in a DOL announcement.

For more updates, check back on IMT Career Journal.

Share

Email  | Print  | Post Comment  | Follow Discussion  | Recommend  |  Recommended (0)

some_text   Tagged With: , , , , ,
 
Leave a Comment:

Your Comment:




CAPTCHA Image

[ Different Image ]

Press Releases
Resources
Home  |  My ThomasNet News®  |  Industry Market Trends®  |  Submit Release  |  Advertise  |  Contact News  |  About Us
Brought to you by Thomasnet.com        Browse ThomasNet Directory

Copyright© 2014 Thomas Publishing Company. All Rights Reserved.
Terms of Use - Privacy Policy






Bear
Thank you for commenting close

Your comment has been received and held for approval by the blog owner.
Error close

Please enter a valid email address