US lost 33,000 jobs in Sept, vs 90,000 jobs increase expected

US jobs

By Jeff Cox

Hurricanes Harvey and Irma damaged not only Texas and Florida but also the U.S. jobs picture, as payrolls fell by 33,000 in September. That drop came even as the unemployment rate fell to a 16-year low of 4.2 percent, the Bureau of Labor Statistics reported Friday.

The jobs loss was the first monthly decline in seven years, when the economy was still pulling out of the Great Recession.

Even with the surprise jobs number, the closely watched hourly wages figure jumped higher, to an annualized rate of 2.9 percent.

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