What you need to know about September jobs report

Clay Pace and William Williams take a break from this bicycle ride near downtown Ft. Lauderdale FL

Clay Pace and William Williams take a break from this bicycle ride near downtown Ft. Lauderdale FL

USA employment data showed that 33,000 jobs were lost during the month of September as Hurricanes Harvey and Irma made landfall, causing severe damage and loss of life in Texas and Florida and surrounding areas. The economy lost 33,000 jobs last month - the first monthly decline in employment in seven years.

Meanwhile, the health care industry grew by 23,000 jobs last month, in line with its monthly gains in the previous year.

Data junkies here's your fix: the September U-6 (the broadest measure of unemployment) fell to 8.3 percent due to a decline in the base unemployment rate and fewer individuals marginally attached to the labor force.

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In September, average hourly earnings for all employees on private payrolls rose by 12 cents to $26.55, which points to labor shortages in some industries.

As of 14:52 BST, the FTSE 100 had added 9.99 points to stand 0.13 percent higher at 7,517.98. It was the first time in seven years that the United States monthly total had recorded a fall.

"Low-wage industries like leisure and hospitality recorded large job losses in September, temporarily boosting the overall average wage", he wrote, adding that it was not a reflection of "real wage pressures".

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A pullback in USA hiring last month resulting from Hurricanes Harvey and Irma will likely prove short-lived, with a resilient job market pointing to gains in the coming months. That could make the household survey a cleaner reading on underlying labor-market conditions last month. Bloomberg was calling for the rate to remain flat at the 4.4% rate reported for August. The Labor Force Participation rate increased to 63.1 percent, the highest since March of 2014. Still, the government said that figure was artificially inflated by the loss of so many lower-paid workers in hurricane-hit areas. That calculation would make Harvey the second-worst USA natural disaster, after Hurricane Katrina in 2005.

"There could even be an increase in jobs in coming months due to the storms as homes and other buildings are repaired or rebuilt, and Americans buy cars and other items to replace those that were lost", wrote Chris Isidore at CNNMoney. Low-wage, hourly workers in other industries may also have been disproportionately affected by the storm.

So wages may not go down all that much even as more restaurant and bar employees head back to work.

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Hurricane Maria, which devastated Puerto Rico and the U.S. Virgin Islands, did not affect this report.

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