National Jobless Rate Lowest Since 2001 Thanks To Irma, Harvey

The nation lost a total of 33,000 jobs throughout the month of September due to hits from both Hurricane Irma and Hurricane Harvey. 

The month of September marked the first monthly decline in jobs in seven years.

The biggest hit came from a drop of 105,000 at restaurants and bars, according to the U.S. Labor Department. 

The Labor Department said the decline is very likely related to the storms. The sector had been adding about 24,000 jobs a month before the storm, and expected an increase of 90,000 jobs in September, even after accounting for the hurricanes.

Irma and Harvey drove the national jobless rate to drop to 4.2 percent, the lowest since 2001.

Economists expect the decline to be short-lived as employers closed by the storm throughout Florida and in Houston are able to reopen.


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