Peter Schiff: Shutdown Hides Jobs Losses

On Friday’s episode of The Peter Schiff Show, Peter dissects a strange Friday in which the headline non-farm payrolls report never arrived because of the government shutdown. He links the missing data to an alarming private-payroll print, explains why the stock market is celebrating weakness for the wrong reasons, and reminds listeners that gold — not a paper dollar — reveals the real erosion of purchasing power. He also calls out the coercive nature of regulatory threats that force companies into “voluntary” actions to avoid penalties.

He opens by pointing out the absurdity of a shutdown that doesn’t actually shut enough of the state, and the practical consequence: no official jobs number to force a conversation about the economy’s health:

So normally on the first Friday of a month, I would be talking about the non-farm payroll report, the jobs report. But I can’t talk about it because it wasn’t released. And the reason it wasn’t released, as I guess there’s nobody who showed up to work at the Bureau of Labor Statistics because of the government shutdown. Now you know, the main problem with the government shutdown is that they don’t shut enough of the government down.