US hit by unexpected FALL in jobs as number plummets by 33,000

Donald Trump campaigned on making the US great again.

Donald Trump on the campaign trail

It is the first decline in the number since September 2010.

The decline is despite the unemployment rate falling to 4.2 per cent, a 16-year low.

The figures will come as a blow to the Republican President Donald Trump who campaigned heavily on promoting US jobs for US workers.

The figures are closely monitored by policy makers at the Federal Reserve as a way to determine underlying trends and future economic strategy.

Analysts have pointed to the impact of Hurricanes Harvey and Irma that brought havoc to the southern states of Texas and Florida respectively, as well as widespread damage in other states.

Just in the catering industry alone, 105,000 positions for workers were lost due to the damage from the hurricanes.

Along with the disappointing figures for September the July figures have been revised downwards.

The July number was revised lower from 189,000 to 138,000 though August got a bump higher from 156,000 to 169,000. In all, though, 2017 thus far has seen the slowest jobs growth in at least five years.

Curt Long, chief economist at the National Association of Federally Insured Credit Unions, said: "The lousy returns from the September jobs report will make little impression on observers, who essentially gave the labor market a free pass due to the impact of Hurricanes Harvey and Irma.”

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

%d bloggers like this: