Published October 29, 2012
The U.S. Labor Department has no plans yet to postpone the release of the October jobs report due out Friday in the wake of Hurricane Sandy.
A spokesman for the agency said in a statement to FOXBusiness: “We will assess the situation when the weather emergency is over and notify the press and public of any changes at that time.”
The October jobs report could have a significant impact on the Nov. 6 presidential election. A positive report would undoubtedly be hailed by President Obama as proof that his policies are working and justification for his re-election. A disappointing report would add fuel to Republican challenger Mitt Romney’s criticism of the president’s economic policies.
Federal government offices were closed Monday and Tuesday as Hurricane Sandy barreled down on the Northeast carrying winds approaching 100 miles per hour. In addition to the gusting winds, the storm could cause widespread flooding in low-lying coastal areas.
Hundreds of thousands of people were evacuated over the weekend from regions likely to be hard hit by the storm.
U.S. stock markets were closed Monday due to the storm and a handful of high-profile companies such as Pfizer (NYSE: PFE) have postponed earnings calls until later in the week.