The shutdown, which on Friday tied the record for the longest in the nation's history, could also drive up the unemployment rate in January. REUTERS/Jonathan ErnstThe unemployment rate rose two-tenths of a percentage point to 3.9 percent in December as some jobless Americans piled into the labour market confident of their employment prospects. Economists also worry that a prolonged government shutdown could hurt both business and consumer confidence, and undercut business and household spending. JPMorgan estimates the shutdown is cutting 0.1-0.2 percentage point every week from quarterly economic growth. It said the impact could be even larger if the shutdown led to a significant shift in sentiment.

Source: bd News24 January 11, 2019 20:48 UTC