Unemployment declines in September

The U.S. unemployment rate decreased slightly from 4.4 percent in August to 4.2 percent in September, the lowest it's been since February 2001, according to The Washington Post. However, the economy lost 33,000 jobs in the aftermath of hurricanes Harvey and Irma, the first decline since September 2010.

Analysts expected job growth to slump in September following the hurricanes. However, this was worse than predicted: The decline in job growth ended a historic 83-month stretch of expansion.

But economists expect the numbers to rebound in coming months and the economy to continue to grow. The 33,000 loss reflects the decline in the number of paychecks issued during the survey period. More significant, economists say, is the increase of 906,000 jobs in the survey of U.S. households, which is used to calculate the unemployment rate.

Employment in food services and drinking places declined sharply in September by 105,000, as many workers were off payrolls because of the recent hurricanes. Health care added 23,000 jobs, and transportation and warehousing added 22,000 positions. Employment in warehousing and storage grew by 5,000; couriers and messengers added 4,000 jobs; and air transportation added 3,000 jobs.

Employment in financial activities grew by 10,000, and professional and business services added 13,000 jobs.

Employment in other major industries, including manufacturing, mining, construction, wholesale trade, retail trade, information and government, showed little change.

There currently are 6.8 million unemployed people in the U.S.

Date : 10/9/2017