U.S. Jobs Dropped By 33,000 In September, Likely Due To Storms

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The U.S. economy shed 33,000 jobs in September, according to the latest report from the Bureau of Labor Statistics, while unemployment fell to 4.2 percent.

The September payrolls drop broke a nearly seven-year streak of continuous job gains, but economists caution that the drop is likely representing the short-term consequences of bad weather, not a long-term shift in the job market.

Before this report, the economy had added an average of about 175,000 jobs per month; the unemployment rate has been at 4.3 or 4.4 percent since April.

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