{"id":4503,"date":"2025-10-31T21:21:21","date_gmt":"2025-10-31T21:21:21","guid":{"rendered":"https:\/\/www.rbc.com\/en\/economics\/"},"modified":"2026-04-02T23:07:25","modified_gmt":"2026-04-02T23:07:25","slug":"dont-focus-on-data-blip-in-october-employment-report","status":"publish","type":"post","link":"https:\/\/www.rbc.com\/en\/economics\/us-analysis\/dont-focus-on-data-blip-in-october-employment-report\/","title":{"rendered":"Don&#8217;t focus on data blip in October employment report"},"content":{"rendered":"\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<div class=\"wp-block-columns pad-t-hlf mob-pad-t-hlf pad-b-hlf mob-pad-b-hlf pad-l-hlf mob-pad-l-hlf pad-r-hlf mob-pad-r-hlf has-rbc-bright-blue-tint-4-background-color has-background is-layout-flex wp-container-core-columns-is-layout-65eef5bf wp-block-columns-is-layout-flex\" style=\"border-style:none;border-width:0px;border-radius:5px\">\n<div class=\"wp-block-column pad-b-hlf mob-pad-b-hlf pad-t-hlf mob-pad-t-hlf is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:98%\">\n<div class=\"wp-block-media-text is-stacked-on-mobile is-vertically-aligned-center mar-l-hlf pad-l-hlf\" style=\"grid-template-columns:22% auto\"><figure class=\"wp-block-media-text__media\"><img decoding=\"async\" src=\"https:\/\/www.rbc.com\/en\/wp-content\/uploads\/sites\/4\/2025\/07\/calendar-2.png?quality=80&amp;w=1024\" alt=\"\" class=\"wp-image-16913 size-full\" \/><\/figure><div class=\"wp-block-media-text__content\">\n<p>As&nbsp;<a href=\"https:\/\/www.rbc.com\/en\/thought-leadership\/economics\/featured-insights\/oh-snap-u-s-government-shutdown-could-have-bigger-impact-than-initially-expected\/\" target=\"_blank\" rel=\"noreferrer noopener\" data-dig-id=\"LP-U.S.Analysis-U.S.WeekAhead-4503-db693f3e\" data-dig-label=\"the US government shutdown\" data-dig-action=\"link click\" data-dig-category=\"LP-U.S.Analysis-U.S.WeekAhead\" class=\"rbc-link-format\">the US government shutdown<\/a>&nbsp;enters its fifth week, we continue to provide forecasts. The data in the table below that is highlighted in red will not be released if the shutdown continues. While we will not be receiving government data next week, we will get both ISM Manufacturing and ISM Services data. <\/p>\n<\/div><\/div>\n<\/div>\n<\/div>\n\n\n\n<p>In both the reports, we will be closely watching the Prices Paid and Employment indices for signals of October price and labor market trends in the absence of government data. We also get Wards Auto data, which will be useful for gauging consumer demand as well as shifts in purchasing patterns as it relates to tariffs. With the pull forward we saw earlier in the year, we expect auto sales will slow in the months ahead.&nbsp;<\/p>\n\n\n\n<p><strong>The ISM Manufacturing report is expected to point to an improvement in activity in October.<\/strong> If we do get a &gt;50 print, this will be the first expansionary print since February 2025. Four of five regional Fed surveys that track manufacturing activity pointed to an improvement in October. <strong>We look for the ISM Services survey to show continued expansion in October at 50.4.<\/strong> Two of the four Fed regional surveys have pointed to an improved outlook in October. Still, the government shutdown is more likely to weigh on the services sector and there is a risk we could see the ISM services dip into contraction territory \u2013 while it does not include the government sector, contractors would be captured.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide wide\" \/>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/www.rbc.com\/en\/wp-content\/uploads\/sites\/4\/2025\/10\/5fd3ce33-b4e2-4959-8bb4-9def08ec9e922c.png?quality=80\" alt=\"\" class=\"wp-image-21756\" \/><\/figure>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide wide\" \/>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/www.rbc.com\/en\/wp-content\/uploads\/sites\/4\/2025\/10\/78a1f628-9dbb-4a94-94dd-158bcf4e6f6f.png?quality=80\" alt=\"\" class=\"wp-image-21757\" \/><\/figure>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide wide\" \/>\n\n\n\n<p>The reality is that the October employment report will be distorted by the government shutdown. The BLS has confirmed that both essential and furloughed federal workers will be counted on payrolls, as they will be paid retroactively for October. However, this will be inconsistent with the household survey. Approximately 750K furloughed federal employees will be counted as unemployed (on temporary layoff) in the household survey, which will contribute to a rise in the unemployment rate.<\/p>\n\n\n\n<p>We estimate about +30K jobs will have been added in the private sector in October.&nbsp;This is just roughly in-line with what we estimate to be&nbsp;<a href=\"https:\/\/www.rbc.com\/en\/economics\/us-analysis\/us-featured-analysis\/us-breakeven-employment-is-falling\/\" data-dig-id=\"LP-U.S.Analysis-U.S.WeekAhead-4503-db693f3e\" data-dig-category=\"LP-U.S.Analysis-U.S.WeekAhead\" data-dig-action=\"link click\" data-dig-label=\"the current break-even rate of employment\" class=\"rbc-link-format\">the current break-even rate of employment<\/a><a href=\"https:\/\/click.website.rbc.com\/?qs=a59ef5b60cdf595d9c7e065552f9afc5739ed9e2c0bcad3000054687895a844ce3a424479bd31f813efa4e162030502e37f777751d484f81\">&nbsp;<\/a>(which is 40K). State-level jobless claims data, private job posting data, and private payroll estimates from ADP all suggest the labor market stabilized between September and October. While the shutdown still brings downside risks to the labor market in the near term, for now, we view the structural demographic factors as driving the force in the labor market heading into 2026.<\/p>\n\n\n\n<p>As we wrote in a previous note, while 730K essential federal workers (who are working without pay) will still be counted as employed, but the 750K furloughed federal employees will be classified as \u201con temporary layoff\u201d and will count as unemployed in the household survey.&nbsp;This means that we are likely to see a sizeable rise in the unemployment rate to 4.8%&nbsp;<a href=\"https:\/\/www.rbc.com\/en\/economics\/us-analysis\/us-featured-analysis\/how-to-navigate-the-us-government-shutdown\/\" data-dig-id=\"LP-U.S.Analysis-U.S.WeekAhead-4503-db693f3e\" data-dig-category=\"LP-U.S.Analysis-U.S.WeekAhead\" data-dig-action=\"link click\" data-dig-label=\"(by our calculations\" class=\"rbc-link-format\">(by our calculations<\/a>). This will likely be a one-month blip in the UER (so long as the shutdown does extend beyond November 15th) but could prove problematic for the Federal Reserve in the December meeting as these distortions will make it exceedingly difficult to get a clean read on the state of the US labor market.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image alignfull size-full\"><img decoding=\"async\" src=\"https:\/\/www.rbc.com\/en\/wp-content\/uploads\/sites\/4\/2025\/10\/US-WA-Oct-31-25.png?quality=80\" alt=\"\" class=\"wp-image-21763\" \/><\/figure>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide wide\" \/>\n\n\n\n<p class=\"has-text-align-center\"><strong>About the Authors<\/strong><\/p>\n\n\n\n<p><em><strong>Mike Reid<\/strong>&nbsp;is a Senior U.S. Economist at RBC. He is responsible for generating RBC\u2019s U.S. economic outlook, providing commentary on macro indicators, and producing written analysis around the economic backdrop.<\/em><\/p>\n\n\n\n<p><em><strong>Carrie Freestone<\/strong>&nbsp;is an economist and a member of the macroeconomic analysis group. She is responsible for examining key economic trends including consumer spending, labour markets, GDP, and inflation.<\/em><\/p>\n\n\n\n<p><em><strong>Imri Haggin<\/strong>&nbsp;is an economist at RBC Capital Markets, where he focuses on thematic research. His prior work has centered on consumer credit dynamics and treasury modeling, with an emphasis on leveraging data to understand behavior.<\/em><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide wide\" \/>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":318,"featured_media":4524,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":""},"categories":[81,86],"tags":[129,58,110],"rbc_econ_content_type":[],"class_list":["post-4503","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-us-analysis","category-us-week-ahead","tag-government-shutdown","tag-labour-market","tag-u-s"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Don&#039;t focus on data blip in October employment report - RBC Economics<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rbc.com\/en\/economics\/us-analysis\/dont-focus-on-data-blip-in-october-employment-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Don&#039;t focus on data blip in October employment report\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.rbc.com\/en\/economics\/us-analysis\/dont-focus-on-data-blip-in-october-employment-report\/\" \/>\n<meta property=\"og:site_name\" content=\"RBC Economics\" \/>\n<meta property=\"article:published_time\" content=\"2025-10-31T21:21:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-04-02T23:07:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/2025\/10\/FG-WA.png?quality=80\" \/>\n\t<meta property=\"og:image:width\" content=\"3067\" \/>\n\t<meta property=\"og:image:height\" content=\"1850\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"viktoriyapanahova\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"viktoriyapanahova\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/us-analysis\/dont-focus-on-data-blip-in-october-employment-report\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/us-analysis\/dont-focus-on-data-blip-in-october-employment-report\/\"},\"author\":{\"name\":\"viktoriyapanahova\",\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/#\/schema\/person\/109dd1bd3c90e818f8159356d46905ea\"},\"headline\":\"Don&#8217;t focus on data blip in October employment report\",\"datePublished\":\"2025-10-31T21:21:21+00:00\",\"dateModified\":\"2026-04-02T23:07:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/us-analysis\/dont-focus-on-data-blip-in-october-employment-report\/\"},\"wordCount\":653,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/us-analysis\/dont-focus-on-data-blip-in-october-employment-report\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/2025\/10\/FG-WA.png?quality=80\",\"keywords\":[\"Government shutdown\",\"Labour Market\",\"U.S.\"],\"articleSection\":[\"U.S. Analysis\",\"U.S. Week Ahead\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.rbc.com\/en\/economics\/us-analysis\/dont-focus-on-data-blip-in-october-employment-report\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/us-analysis\/dont-focus-on-data-blip-in-october-employment-report\/\",\"url\":\"https:\/\/www.rbc.com\/en\/economics\/us-analysis\/dont-focus-on-data-blip-in-october-employment-report\/\",\"name\":\"Don't focus on data blip in October employment report - RBC Economics\",\"isPartOf\":{\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/us-analysis\/dont-focus-on-data-blip-in-october-employment-report\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/us-analysis\/dont-focus-on-data-blip-in-october-employment-report\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/2025\/10\/FG-WA.png?quality=80\",\"datePublished\":\"2025-10-31T21:21:21+00:00\",\"dateModified\":\"2026-04-02T23:07:25+00:00\",\"author\":{\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/#\/schema\/person\/109dd1bd3c90e818f8159356d46905ea\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/us-analysis\/dont-focus-on-data-blip-in-october-employment-report\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.rbc.com\/en\/economics\/us-analysis\/dont-focus-on-data-blip-in-october-employment-report\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/us-analysis\/dont-focus-on-data-blip-in-october-employment-report\/#primaryimage\",\"url\":\"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/2025\/10\/FG-WA.png?quality=80\",\"contentUrl\":\"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/2025\/10\/FG-WA.png?quality=80\",\"width\":3067,\"height\":1850},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/us-analysis\/dont-focus-on-data-blip-in-october-employment-report\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.rbc.com\/en\/economics\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Don&#8217;t focus on data blip in October employment report\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/#website\",\"url\":\"https:\/\/www.rbc.com\/en\/economics\/\",\"name\":\"RBC Economics\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.rbc.com\/en\/economics\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/#\/schema\/person\/109dd1bd3c90e818f8159356d46905ea\",\"name\":\"viktoriyapanahova\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/secure.gravatar.com\/avatar\/885bcff339d33080f070ec9cbe77fcf3007653305ae17de7827e19af43e61913?s=96&d=mm&r=g\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/885bcff339d33080f070ec9cbe77fcf3007653305ae17de7827e19af43e61913?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/885bcff339d33080f070ec9cbe77fcf3007653305ae17de7827e19af43e61913?s=96&d=mm&r=g\",\"caption\":\"viktoriyapanahova\"},\"url\":\"https:\/\/www.rbc.com\/en\/economics\/author\/viktoriyapanahova\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Don't focus on data blip in October employment report - RBC Economics","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.rbc.com\/en\/economics\/us-analysis\/dont-focus-on-data-blip-in-october-employment-report\/","og_locale":"en_US","og_type":"article","og_title":"Don't focus on data blip in October employment report","og_url":"https:\/\/www.rbc.com\/en\/economics\/us-analysis\/dont-focus-on-data-blip-in-october-employment-report\/","og_site_name":"RBC Economics","article_published_time":"2025-10-31T21:21:21+00:00","article_modified_time":"2026-04-02T23:07:25+00:00","og_image":[{"width":3067,"height":1850,"url":"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/2025\/10\/FG-WA.png?quality=80","type":"image\/png"}],"author":"viktoriyapanahova","twitter_card":"summary_large_image","twitter_misc":{"Written by":"viktoriyapanahova","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.rbc.com\/en\/economics\/us-analysis\/dont-focus-on-data-blip-in-october-employment-report\/#article","isPartOf":{"@id":"https:\/\/www.rbc.com\/en\/economics\/us-analysis\/dont-focus-on-data-blip-in-october-employment-report\/"},"author":{"name":"viktoriyapanahova","@id":"https:\/\/www.rbc.com\/en\/economics\/#\/schema\/person\/109dd1bd3c90e818f8159356d46905ea"},"headline":"Don&#8217;t focus on data blip in October employment report","datePublished":"2025-10-31T21:21:21+00:00","dateModified":"2026-04-02T23:07:25+00:00","mainEntityOfPage":{"@id":"https:\/\/www.rbc.com\/en\/economics\/us-analysis\/dont-focus-on-data-blip-in-october-employment-report\/"},"wordCount":653,"commentCount":0,"image":{"@id":"https:\/\/www.rbc.com\/en\/economics\/us-analysis\/dont-focus-on-data-blip-in-october-employment-report\/#primaryimage"},"thumbnailUrl":"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/2025\/10\/FG-WA.png?quality=80","keywords":["Government shutdown","Labour Market","U.S."],"articleSection":["U.S. Analysis","U.S. Week Ahead"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.rbc.com\/en\/economics\/us-analysis\/dont-focus-on-data-blip-in-october-employment-report\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.rbc.com\/en\/economics\/us-analysis\/dont-focus-on-data-blip-in-october-employment-report\/","url":"https:\/\/www.rbc.com\/en\/economics\/us-analysis\/dont-focus-on-data-blip-in-october-employment-report\/","name":"Don't focus on data blip in October employment report - RBC Economics","isPartOf":{"@id":"https:\/\/www.rbc.com\/en\/economics\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.rbc.com\/en\/economics\/us-analysis\/dont-focus-on-data-blip-in-october-employment-report\/#primaryimage"},"image":{"@id":"https:\/\/www.rbc.com\/en\/economics\/us-analysis\/dont-focus-on-data-blip-in-october-employment-report\/#primaryimage"},"thumbnailUrl":"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/2025\/10\/FG-WA.png?quality=80","datePublished":"2025-10-31T21:21:21+00:00","dateModified":"2026-04-02T23:07:25+00:00","author":{"@id":"https:\/\/www.rbc.com\/en\/economics\/#\/schema\/person\/109dd1bd3c90e818f8159356d46905ea"},"breadcrumb":{"@id":"https:\/\/www.rbc.com\/en\/economics\/us-analysis\/dont-focus-on-data-blip-in-october-employment-report\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.rbc.com\/en\/economics\/us-analysis\/dont-focus-on-data-blip-in-october-employment-report\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.rbc.com\/en\/economics\/us-analysis\/dont-focus-on-data-blip-in-october-employment-report\/#primaryimage","url":"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/2025\/10\/FG-WA.png?quality=80","contentUrl":"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/2025\/10\/FG-WA.png?quality=80","width":3067,"height":1850},{"@type":"BreadcrumbList","@id":"https:\/\/www.rbc.com\/en\/economics\/us-analysis\/dont-focus-on-data-blip-in-october-employment-report\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.rbc.com\/en\/economics\/"},{"@type":"ListItem","position":2,"name":"Don&#8217;t focus on data blip in October employment report"}]},{"@type":"WebSite","@id":"https:\/\/www.rbc.com\/en\/economics\/#website","url":"https:\/\/www.rbc.com\/en\/economics\/","name":"RBC Economics","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.rbc.com\/en\/economics\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.rbc.com\/en\/economics\/#\/schema\/person\/109dd1bd3c90e818f8159356d46905ea","name":"viktoriyapanahova","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/885bcff339d33080f070ec9cbe77fcf3007653305ae17de7827e19af43e61913?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/885bcff339d33080f070ec9cbe77fcf3007653305ae17de7827e19af43e61913?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/885bcff339d33080f070ec9cbe77fcf3007653305ae17de7827e19af43e61913?s=96&d=mm&r=g","caption":"viktoriyapanahova"},"url":"https:\/\/www.rbc.com\/en\/economics\/author\/viktoriyapanahova\/"}]}},"author_meta":{"display_name":"viktoriyapanahova","author_link":"https:\/\/www.rbc.com\/en\/economics\/author\/viktoriyapanahova\/"},"featured_img":"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/2025\/10\/FG-WA.png?quality=80&w=300","jetpack_featured_media_url":"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/2025\/10\/FG-WA.png?quality=80","coauthors":[],"tax_additional":{"categories":{"linked":["<a href=\"https:\/\/www.rbc.com\/en\/economics\/category\/us-analysis\/\" class=\"advgb-post-tax-term\">U.S. Analysis<\/a>","<a href=\"https:\/\/www.rbc.com\/en\/economics\/category\/us-week-ahead\/\" class=\"advgb-post-tax-term\">U.S. Week Ahead<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">U.S. Analysis<\/span>","<span class=\"advgb-post-tax-term\">U.S. Week Ahead<\/span>"]},"tags":{"linked":["<a href=\"https:\/\/www.rbc.com\/en\/economics\/category\/us-week-ahead\/\" class=\"advgb-post-tax-term\">Government shutdown<\/a>","<a href=\"https:\/\/www.rbc.com\/en\/economics\/category\/us-week-ahead\/\" class=\"advgb-post-tax-term\">Labour Market<\/a>","<a href=\"https:\/\/www.rbc.com\/en\/economics\/category\/us-week-ahead\/\" class=\"advgb-post-tax-term\">U.S.<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">Government shutdown<\/span>","<span class=\"advgb-post-tax-term\">Labour Market<\/span>","<span class=\"advgb-post-tax-term\">U.S.<\/span>"]}},"comment_count":"0","relative_dates":{"created":"Posted 6 months ago","modified":"Updated 3 weeks ago"},"absolute_dates":{"created":"Posted on October 31, 2025","modified":"Updated on April 2, 2026"},"absolute_dates_time":{"created":"Posted on October 31, 2025 9:21 pm","modified":"Updated on April 2, 2026 11:07 pm"},"featured_img_caption":"","series_order":"","_links":{"self":[{"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/posts\/4503","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/users\/318"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/comments?post=4503"}],"version-history":[{"count":7,"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/posts\/4503\/revisions"}],"predecessor-version":[{"id":8956,"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/posts\/4503\/revisions\/8956"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/media\/4524"}],"wp:attachment":[{"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/media?parent=4503"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/categories?post=4503"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/tags?post=4503"},{"taxonomy":"rbc_econ_content_type","embeddable":true,"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/rbc_econ_content_type?post=4503"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}