The Economy Loses 33,000 Jobs in September, and Unemployment Was Little Changed at 4.2%

Posted by | October 06, 2017 | Uncategorized | No Comments

By Kenneth Quinnell The Economy Loses 33,000 Jobs in September, and Unemployment Was Little Changed at 4.2%

The U.S. economy lost 33,000 jobs in September, and unemployment was little changed at 4.2%, according to figures released this morning by the U.S. Bureau of Labor Statistics. The decline likely reflects the impact of Hurricanes Harvey and Irma.

In response to the September jobs numbers, AFL-CIO Chief Economist William Spriggs tweeted:

September’s #JobsReport clearly shows labor market is still recovering (as long term unemployment falling) not a structural shift @AFLCIO pic.twitter.com/UuterBTuzw

— William E. Spriggs (@WSpriggs) October 6, 2017

Over the year, from last September, wages up 2.9% That is too modest for the @federalreserve to consider sticking to raising interest rates

— William E. Spriggs (@WSpriggs) October 6, 2017

#JobsReport may show effect of Hurricane Irma. Payroll employment fell by 33,000. Household survey shows employment up unemployment down.

— William E. Spriggs (@WSpriggs) October 6, 2017

Black Employment-to-Population ration continues to show its climb back that started in 2011 @CBTU72 @dchometownboy @rolandsmartin @AFLCIO pic.twitter.com/BIrRhFO7Gj

— William E. Spriggs (@WSpriggs) October 6, 2017

Broadest measure of unemployment U-6 falls from 8.6 to 8.3% in September (this includes part time workers who want full time work) @AFLCIO

— William E. Spriggs (@WSpriggs) October 6, 2017

The sign of Hurricane Irma and remnants of Harvey is the 105,000 drop in food service and drinking establishments payroll @AFLCIO

— William E. Spriggs (@WSpriggs) October 6, 2017

Last month’s biggest job gains were in health care (23,000), transportation and warehousing (22,000), financial activities (10,000), and professional and business services (13,000). Employment in food services and drinking places dropped sharply in September (-105,000) and manufacturing (-1,000) also saw a decline. Employment in other major industries, including mining, construction, wholesale trade, retail trade, information and government, showed little change over the month.

Among the major worker groups, the unemployment rates for teenagers (12.9%), blacks (7.0%), Hispanics (5.1%), adult men (3.9%), adult women (3.9%), Asians (3.7%) and whites (3.7%) showed little or no change in September.

The number of long-term unemployed (those jobless for 27 weeks or more) was down slightly in September and accounted for 25.5% of the unemployed.

Kenneth Quinnell
Fri, 10/06/2017 – 10:43

Source: AFL-CIO

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