33,000 Jobs Shed in September after Hurricanes Harvey, Irma

Total nonfarm payroll employment fell by 33,000 in September, the first negative reading since September 2010, according to the Bureau of Labor Statistics. July’s and August’s figures were revised from 189,000 and 156,000 to 138,000 and 169,000, respectively. The national unemployment rate ticked down from 4.4% to 4.2%, the lowest level since 2001.

Private service-providing industries lost 49,000 jobs, led by steep declines in leisure and hospitality services, which shed 111,000 jobs during the month.

Goods-producing employment rose by 9,000 jobs during the month, as gains in construction led by adding 8,000 jobs in September.

The civilian labor force participation rate was 63.1%, an improvement from August’s 62.9% rate. Workers unemployed for less than 14 weeks decreased by 137,000, while the number of long-term unemployed, those jobless for 27 weeks or more, fell by 7,000 and accounted for 25.5% of the unemployed. The number of discouraged workers was 421,000, a 132,000 decrease from a year earlier.

Average hourly earnings increased by 12 cents to $26.55, after a 4-cent increase in August. Over the past year, average hourly earnings have risen by 74 cents, or 2.9%.

Read the BLS release.

About Stephen Newton

Stephen Newton is an economic research associate at ABA.
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