Unemployment Rate & Jobs Added/Lost in the US for September 2017

Unemployment Rate & Jobs Added/Lost in the US for September 2017

By Unemployment Tracker Posted October 12, 2017
 
The Labor Department Jobs Report shows the unemployment rate at 4.2%.  The hurricanes have crippled jobs as the US economy lost 33,000 in September.
This is the first monthly decline in jobs in seven years.  This is opposed to the expected increase of 90,000 jobs that economists forecasted.  
 

The number was expected to be lower than usual due to Hurricanes Harvey and Irma, which hammered Texas and Florida, as well as other states. Federal Reserve policymakers watch the report closely to help guide future policy, though this month's report may be treated as outlier due to the weather impact.

Eating and drinking establishments lost 105,000 positions as workers were laid off due to damage from the record-breaking hurricanes.  Any wage gains in September may be misrepresentative as most of the jobs lost were in low-wage positions.

In addition to September's rough month, the July number was revised lower from 189,000 to 138,000 though August got a bump higher from 156,000. In all, though, 2017 thus far has seen the slowest jobs growth in at least five years.

The Labor Department's household survey showed the actual level of employed Americans grew by 906,000 while the unemployment rolls fell by 331,000. The report indicated a record 154.3 million Americans at work.

Job gains for the month came from health care, at 23,000, transportation and warehousing with 22,000 and professional and business services, which added 13,000.


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