Hurricanes cause rare monthly US job loss but rebound likely
October 6, 2017
WASHINGTON (AP) — The U.S. shed 33,000 jobs in September because of Hurricanes Harvey and Irma, which closed thousands of businesses in Texas and Florida and forced widespread evacuations. It marked the first monthly hiring drop in nearly seven years.
The unemployment rate fell to 4.2 percent from 4.4 percent, the Labor Department said Friday , the lowest level since 2001 and a sign that the job market remains fundamentally solid. Hiring is expected to rebound in coming months as businesses in the Southeast reopen and bring back employees, and construction companies ramp up repair and ren...