Disaster! U.S. Economy Lost 33,000 Jobs in September as Hurricanes Hit Hard
The economy shrunk by 33,000 jobs in September while unemployment fell to 4.2 percent, according to closely-watched data from the Bureau of Labor Statistics.
It was the first payroll contraction since September 2010.
The numbers were much worse than expected. Economists had expected payrolls to grow by 100,000 and unemployment rate to hold steady. September was the first employment report to register the effects of hurricanes Harvey and Irma. Over the past 12 months, the economy has added an average of 172,000 jobs each month. – READ MORE
The first jobs report to register the effects of Irma and Harvey show that the U.S. economy took a hard hit in September.