News Worms
News Worms

Hurricanes take their toll on U.S. jobs market

Hurricanes take their toll on U.S. jobs market

The U.S. economy lost 33,000 jobs in September, according to the Bureau of Labor Statistics on Friday.

The US economy experienced a shock fall in jobs in September, the first monthly decline since 2010.

From November 2016 through August, manufacturing had gained an average of 14,000 jobs a month, according to a statement by the bureau.

Despite the unexpected drop in employment, the unemployment rate dipped to 4.2 percent in September from 4.4 percent in August. Over the past year, average hourly earnings have risen by 74 cents, or 2.9%. In fact, the proportion of adults who have jobs rose to 60.4 percent, the highest since January 2009.

"We know that there have been sectors and localities faring better than the norm, but [the September jobs report] suggests that wage growth is spreading, finally", he added. September was the first employment report to register the effects of hurricanes Harvey and Irma.

The construction industry is also expected to see additional job growth in the coming months as companies see increased demand for repairs and renovations as a result of the storms.

Ian Shepherdson of Pantheon Macroeconomics said: "Unemployment is what matters, and this report therefore makes a December rate hike even more likely". Hourly employees in the area who couldn't work and missed a paycheck would be counted as not working, thereby lowering the September job gain. The number of people describing themselves as unemployed fell to 6.8 million, the fewest since March 2007, before the Great Recession began.

Meanwhile job gains for the month of July were adjusted downward by 51,000 and job gains from August were adjust up by 13,000. That's the lowest such level in over a decade.

The figures are judged unlikely to affect the US Federal Reserve's interest rates hiking cycle. The Labor Force Participation rate increased to 63.1 percent, the highest since March of 2014.

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.

Workers' wages jumped last month, another figure that may have been affected by the storms. However, real wages - the buying power of workers' earnings with inflation taken into account - have declined 7.5 percent since 2006.

Puerto Rico, the U.S. territory also devastated by the hurricanes, is not counted in the jobs report.


editors' picks

October 07, 2017
Children And Teacher Burned Alive In Nursery School In Brazil
More Americans have died from gunshots in the past 50 years than have been killed in every USA war, NBC News reported. The incident occurred in a modest quarter of Janauba, a city of 70,000 about 600km north of Belo Horizonte city.

October 07, 2017
Winona Ryder reveals the bullying she experienced after 'Beetlejuice' release
No, this isn't a Halloween crossover - it's just Max, one of the new characters joining Stranger Things for its second season . The game, which is available as a free download on both Android and iOS , looks like a long-lost SNES classic.

October 06, 2017
Tillerson denies considered resigning from Trump admin
The article reported that Tillerson had to be persuaded by Vice President Mike Pence over the summer to stay in the job. They also reported Tillerson was on the verge of resigning due to policy disputes and clashes with the White House.

October 06, 2017
Sessions Says Title VII Doesn't Protect Trans Workers
Sessions has made an apparent mission of dismantling LGBT protections since taking over the Justice Department. But in a statement, Devin O'Malley, a Justice Department spokesman for civil rights issues, framed Mr.

October 06, 2017
Saudi Arabia is flexible on oil cuts pact, all options open: Falih
King Salman's visit to Russian Federation has been widely interpreted as a sign of Russia's growing influence in the Middle East. Saudi Arabia , meanwhile, is leading the global coalition launching daily airstrikes against Houthi-held settlements in Yemen.

October 06, 2017
TransCanada cancels Energy East pipeline project
TransCanada had hit regulatory hurdles even before the greenhouse gas assessment was announced. New Brunswick Premier Brian Gallant says the announcement is not good news for his province.

October 06, 2017
The Next Giant Leap: US Will Return to the Moon, Pence Says
Five months later, he reinstituted the space council with an executive order signing ceremony. It's certainly interesting to re-focus efforts on space exploration.

October 06, 2017
Denis Villeneuve: I felt intimidated making Blade Runner 2049
The two laughed their way through the interview while talking about their upcoming film Blade Runner 2049 . Ridley Scott's 1982 neo-noir original extracted the frightful premise of Philip K.

October 05, 2017
Lausanne University professor wins Nobel Prize for chemistry
So Dubochet's lab spread their water-based samples across a thin metal grid, leading individual droplets to fill each hole. Today's award left Frank feeling "overwhelmed", he told the press conference by phone.

October 05, 2017
National Basketball Association ditches East vs. West format for next All-Star Game
Hey, Lakers fans! Eyes just widened a bit, huh? USA Today is reporting the change will go into effective for the 2017-18 season. He already plays for an All-Star team that features himself, Thompson, Kevin Durant and Draymond Green in the starting lineup.