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10/6/17

US Economy: Employment Statistics: US loses 33,000 jobs after hurricanes

The U.S. shed 33,000 jobs in September because of Hurricanes Harvey and Irma, which closed thousands of businesses in Texas and Florida and forced widespread evacuations. It was the first decline in nearly seven years.

The unemployment rate fell to 4.2 percent from 4.4 percent, the Labor Department said Friday, the lowest level since February 2001.

Looking past the hurricanes’ impact, the job market and economy generally look healthy. Job growth is likely to rebound in the coming months as businesses in the area reopen and construction companies ramp up repair and renovation work.

Last month’s drop was driven by huge losses in restaurants and bars, which shed 105,000 jobs, a sign of the damage to Florida’s tourism industry.

Read mor: US loses 33,000 jobs after hurricanes - The Boston Globe

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