Daily Traders Edge

September Jobs Report: Wages Up, Hiring Down

October 06
14:32 2017

I feel like this might be what full employment looks like.

We had a loss of 33,000 payrolls in September. That’s versus an expected plus 80,000 jobs added. It’s the first month with a negative number since 2011 – the end of a six year streak. Unemployment just fell to a sixteen year low at 4.2%.

And, most importantly, wages rose faster than expected.

Some details…

Associated Press:

 The U.S. lost 33,000 jobs in September after Hurricanes Harvey and Irma hit Texas, Florida and other Southeastern states. It was the first decline in six years.

The Labor Department says the unemployment rate fell to 4.2 percent from 4.4 percent, the lowest level since February 2001.

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