[White House Official: U.S. Government 'Shutdown' Could Lead to Loss of 60,000 Private Sector Jobs]
On November 13 local time, White House National Economic Council Director Kevin Hassett stated that due to reduced output, the U.S. government 'shutdown' could result in the loss of 60,000 private sector jobs. Hassett noted that the latest estimates from the Council of Economic Advisers indicate that the economic losses caused by the 'shutdown' could reach as high as $15 billion per week. He also mentioned that in the coming weeks, labor market conditions will be further assessed through employment reports and unemployment claims data, and overall employment data is expected to be released soon.