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US employment drops to seven-year low
10:28 - 07/10/2017
Information / Baghdad ..
The number of US jobs fell last month for the first time in seven years as hurricanes Harvey and Erma left temporary workers temporarily out of work and delayed hiring, a new sign that storms negatively affected economic activity in the third quarter.
The US Department of Labor reported that the number of jobs in the non-farm sectors in the United States fell 33,000 jobs last month with a record decline in employment in the entertainment and hospitality sector.
The decline in jobs is the first since September 2010, and the hurricane Harvey and Erma, which caused devastation in Texas and Florida in late August and early September, have reduced the "total nonfarm payroll" estimate.
Economists surveyed expected jobs to increase by 90,000 jobs last month, and the government revised August data to show an increase of 169,000 jobs that month instead of 156,000 in previous estimates.
Many displaced persons are likely to return to work, and this is expected to support the addition of reconstruction work and the removal of hurricane effects in the coming months.
The number of employees in the leisure and hospitality sector fell 111,000 in the biggest decline since data began in 1939, after stabilizing little changed in August. There was also a drop in retail and manufacturing workers last month.
Harvey and Erma did not affect the unemployment rate, which fell 0.2 percentage points to 4.2 percent, the lowest level since February 2001, and the average wage rose by 12 cents or 0.5 percent in September after rising 0.2 per cent in August. Ending / 25
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