The Labor Department's employment report showed the closure of 33,000 jobs last month, excluding the agricultural sector, the latest indication that storms hurt economic activity in the third quarter. Economists interviewed by Reuters had expected 90,000 jobs. average salaries rose 0.5 percent, compared to an increase of 0.3 percent.
In any normal month, this result would have raised fears in the global markets, but September was not a normal month.
Traders had expected weak numbers due to the severe disruption caused by hurricanes Harvey and Irma, and although it was much worse than expected, markets will start the weekend thinking there is no reason to panic.
In any normal month, this result would have raised fears in the global markets, but September was not a normal month.
Traders had expected weak numbers due to the severe disruption caused by hurricanes Harvey and Irma, and although it was much worse than expected, markets will start the weekend thinking there is no reason to panic.
