USA loses 33000 jobs in September after hurricanes slam Texas, Florida

USA loses 33000 jobs in September after hurricanes slam Texas, Florida

USA loses 33000 jobs in September after hurricanes slam Texas, Florida

Meanwhile, the health care industry grew by 23,000 jobs last month, in line with its monthly gains in the a year ago. The national jobless rate dropped to 4.2 percent in September, which is the lowest since February of 2001, at the start of President George W. Bush's Administration.

The unemployment rate, which was 4.4% in August, fell to 4.2%.

NAR Chief Economist Lawrence Yun expressed some excitement about the 2.9 percent wage growth in September, but communicated concern about the lack of new residential construction.

Average earning were recorded as growing at an annual pace of 2.9 per cent, up from 2.7 per cent previously, and higher than the 2.5 per cent Wall Street analysts had pencilled in. In all, though, 2017 thus far has seen the slowest jobs growth in at least five years.

The bureau adds that other industries added jobs below the average rate due to the hurricane.

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"In September, a sharp employment decline in food services and drinking places and below-trend growth in some other industries likely reflected the impact of Hurricanes Irma and Harvey", said William J. Wiatrowski, the Acting Commissioner of the Bureau of Labor Statistics (BLS). That calculation would make Harvey the second-worst USA natural disaster, after Hurricane Katrina in 2005.

The unemployment rate fell because it is calculated with a separate survey of households. Employees who weren't paid during the Labor Department's survey week (of September 12) were not counted as employed. Auto sales, which had been lackluster this year, jumped 6.1 percent to more than 1.5 million in September from a year ago, according to Autodata Corp., as Americans began to replace cars destroyed by the storms.

"We weren't able to do our normal hiring spree that we usually do going into the fall", Harmon said. The labor force participation rate, at 63.1 percent, changed little over the month and has shown little movement over the year. If it did, Friday's decline would have been significantly higher.

Overall, 152 million people are employed in non-agricultural industries, 122.1 million of them in private industry, 20.9 million in government, and 8.9 million are self-employed in unincorporated enterprises. However, real wages - the buying power of workers' earnings with inflation taken into account - have declined 7.5 percent since 2006.

Puerto Rico, which was devastated by Hurricane Maria, is not included in the BLS report.

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