Abril 26, 2018

U.S. sheds 30K jobs in September amid hurricanes

06 Octubre 2017, 10:16 | Dolorita Barahona



The new jobs report is a case of good news/bad news.

Total non-farm employment fell by 33,000 jobs, the bureau said in its statement.

Others said the figure was likely to have been skewed by the unusual hurricane-related job decline in the low-wage food industry. This report, however, was impacted by hurricanes Harvey and Irma.

Claims surged in recent weeks due to job losses from Hurricanes Harvey, Irma and Maria.

Even if that rate does tick higher, it will still be near what economists generally consider to be full employment. For both surveys, collection rates generally were within normal ranges, both nationally and in the affected states.

Payrolls are calculated from a survey of employers, which treats any worker who was not paid for any part of the pay period that includes the 12th of the month as unemployed.

Teasing out the exact impact of the storms is tricky.

Furthermore, estimates for the previous two months were revised lower by a combined 40,000. The new three-month average is now 91,000, well below the maintenance rate.

Service sector hiring was weakest, with companies shedding 49,000 staff last month versus a 98,000 person gain in August.

Within the unemployment rates there were some interesting moves.

The labor-force participation rate rose to 63.1% from 62.9%.

One key difference between the two is that the establishment survey measures jobs while the household survey tallies the actual level of people at work - so one person holding two jobs would only count once.

Over the past 12 months, average hourly earnings have increased by 74 cents, or 2.9 percent.

That's a notably different result than experts were predicting-even accounting for the hurricane impacts. At this point in 2016, the average monthly job growth was just under 200,000 jobs.

The unemployment rate fell because it is calculated with a separate survey of households. After taking control of the federal government, Trump and congressional Republicans have been obsessed with taking health care away from people and ignoring the economy. Jonathan Wright, an economist affiliated with the Brookings Institution, estimated that Friday's report would have shown a 67,000 increase in jobs had it not been for the effect of the hurricanes.

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