United States

Modest payback for disaster disruption to autumn hiring

WEEKLY MARKET COMMENTARY  | 

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For the second straight month noise in the data associated with Hurricanes Harvey and Irma, and likely the wildfires in California, distorted the U.S. Bureau of Labor Statistics estimate of total employment which improved by a less than forecast 261,000 on the back of an upward revision to the September estimate from a decline of 33,000 in overall employment to a gain of 18,000. The three-month average of 162,000 is just below the 185,000 average that prevailed prior to the natural disasters that hit the economy in September.

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