Hurricanes may have wiped out as many as 125,000 jobs from September
(Worthy News) – Hurricanes Harvey and Irma may have wiped as many as 125,000 jobs from the September employment report, resulting in job growth below 100,000.
With the historic double shocks of two Category 4 storms, the 8:30 a.m. ET Friday report is going to be fluky. The forecast for new payrolls falls in an unusually wide range — with expectations between 45,000 jobs lost to a gain of 150,000 or more.
The divergence shows just how difficult it has been to measure the economic impact of the two back-to-back storms that hit the mainland U.S. in late August and early September. Economists say the Fed will look past this report when considering monetary policy, and the employment picture be much more clear by the time it is expected to consider raising interest rates in December. [ Source: CNBC (Read More…) ]
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