U.S. Lost 33,000 Jobs in September; Unemployment Rate Dips to 4.2%

10/7/17
 
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from The New York Times,
10/6/17:

Staggering from the impact of hurricanes that walloped Texas, Florida and neighboring states, the economy lost 33,000 jobs in September, the first monthly decline in employment in seven years, the government reported on Friday.

But economists discounted the discouraging report, describing it as a blip in a job market that was fundamentally strong.

Many workers have been waiting to see concrete evidence of economic progress in their paychecks. Although the Census Bureau last month reported a jump in annual incomes across a wide spectrum, households with incomes below the median remain worse off than they were in 2000.

The hefty growth in average wages reported on Friday was probably exaggerated, because many low-wage workers were temporarily displaced by the storms, bumping up the overall average.

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U.S. Lost 33,000 Jobs in September; Unemployment Rate Dips to 4.2%