This is what typically happens during a partial government shutdown.
Required to work with a delayed paycheck.
“Essential” Federal employees will work without pay. More than 420,000 federal employees across numerous agencies will continue to work even as the government shuts down. They just won’t get paid for it immediately. More than 41,000 of these employees are federal law enforcement and correctional officers from the FBI, the Drug Enforcement Agency, the Bureau of Alcohol, Tobacco, Firearms and Explosives, and thousands of other law enforcement and correctional officers.
The vast majority of Department of Homeland Security employees will also work without a regular paycheck. The nearly 90 percent of workers in the agency affected by a shutdown would include 53,000 Transportation Security Administration employees, as well as 42,000 Coast Guard employees.
As many as 54,000 employees from Customs and Border Protection — the agents who are currently working to secure the southern U.S. border are included in employees working without a paycheck.
Up to 5,000 Forest Service firefighters and 3,600 National Weather Service forecasters will also keep working without paychecks.
Another 380,000 federal workers or more could be placed on temporary leave without receiving pay in the event of a government shutdown.
Furloughs will affect the departments of Department of Commerce and NASA staff. About 41,000 people, or 86 percent, could be furloughed from the Commerce Department, along with a staggering 96 percent of NASA employees.
Four-fifths of the Forest and National Park Services, totaling more than 44,000 employees, could be sidelined, as could approximately 52,000 staff from the IRS, and about 7,100 Housing and Urban Development workers — 95 percent of the total.
Thirty percent of Transportation Department employees, equaling about 18,300, are part of the furlough.
All of that lost work could cost taxpayers huge amounts of money. An Office of Management and Budget review of a 2013 government shutdown during the Obama administration concluded that the cost of “the lost productivity of furloughed workers” alone was $2 billion. That shutdown was one of the longest in U.S. history.
Here is a list of affected Federal departments during a government shutdown.
- Department of the Treasury
- Department of Agriculture
- Homeland Security Department
- Department of the Interior
- Department of State
- Department of Housing and Urban Development
- Department of Transportation
- Department of Commerce
- Department of Justice
Not only are federal employees impacted, but the non-federal employees or contractors are affected as well. This is a lot of people without a paycheck, applying for unemployment, looking for temporary jobs and having to use savings to pay the bills.
How does this affect the market? We have a stock market that is uncertain during times like this. News has an added reaction factor for trading. The market is just plain “Nervous”.
Government Shutdowns are becoming more frequent as this is used as a move to achieve a political end.
A good backup plan is learning how to trade the US Stock Market. Where do you learn?
Right here: WealthBuildersHQTrading U