How Hurricanes Skewed September’s Job Numbers

2017-10-07 0

How Hurricanes Skewed September’s Job Numbers
But don’t read too much into that decline — Hurricanes Harvey and Irma, which ravaged Texas and Florida, wreaked havoc on employment.
The United States’ nearly seven-year streak of job growth came to an end in September, as employers cut 33,000 jobs.
Employment in the leisure and hospitality sector, for example, which includes hotels, restaurants
and other weather-dependent businesses, was cut by 111,000 jobs in September.
Still, it is nearly certain that, had it not been for the hurricanes, job growth would have been positive for a record 84th consecutive month.
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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