If there are sample units that BLS is unable to contact in the most heavily impacted disaster areas,Traders have seen a mixed bag of economic releases and a handful of companies warning of profit shortfalls heading into the number Friday. Investors were finally seeing the effects of higher energy prices on some companies. Wendy's ( WEN) said third-quarter same-store sales fell 5% in the U.S. The restaurant operator said same-store sales were hurt by store closings after Hurricanes Katrina and Rita, high gasoline prices and lower consumer spending. Clorox ( CLX) lowered its earnings forecast for the second quarter to a range of 41 cents to 47 cents a share from its previous outlook of 50 cents to 57 cents a share. The company also cut its full-year earnings forecast, citing rising energy costs.
the Current Employment Statistics surveywill assume the business is not operating and therefore has an employment level of zero. This carries some risk of overstating employment loss. However, if CES follows its usual imputation procedure for non-respondents, all non-responding units in these areas would have the over-the-month change trend of all other sample units in the estimation cell assigned to them. This assumption, given the present circumstances in the affected areas, is unlikely to be true, and, therefore, following standard imputation procedure would carry a strong risk of understating employment loss.