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U.S. Services Surge Amid Job Concerns and Shutdown Risks

11/7/2025

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Summary

Story summary

U.S. services activity rose to an eight-month high in October, per the Institute for Supply Management (ISM).
Employment remains weak amid economic uncertainty and tariffs.
U.S. President Donald Trump cited a drop in federal jobs, saying all new jobs are in the private sector.
The government shutdown has delayed key employment reports, raising outlook concerns.
Economists warn the shutdown could trim GDP by up to 2.0 percentage points in Q4.

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Story summary

U.S. services activity rose to an eight-month high in October, per the Institute for Supply Management (ISM).
Employment remains weak amid economic uncertainty and tariffs.
U.S. President Donald Trump cited a drop in federal jobs, saying all new jobs are in the private sector.
The government shutdown has delayed key employment reports, raising outlook concerns.
Economists warn the shutdown could trim GDP by up to 2.0 percentage points in Q4.