Hiring data suggests an unusual economic dynamic at play

Hiring likely remained stalled in September, with the job market limping into year's end.

Why it matters: That is the signal from a collection of private sector data that, at least directionally, suggests weak growth in employment over the summer continued into the early fall. • Those indicators signal that an unusual economic dynamic persisted last month: Employment is barely budging, even as business investment and consumer spending look strong.

The big picture: As the government shutdown drags on, so will the delay in key indicators — including the monthly jobs report. • Private sector data can offer some clarity about economic conditions in any given month, though without the massive samples and long track record of government data, which economists consider the gold standard.

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