Big rebound in October jobs expected after hurricanes hit September hiring
(Worthy News) – Economists expect job growth of 310,000 in October, a rebound after the impact of hurricanes Harvey and Irma resulted in a 33,000 decline in September.
The weak September employment report was the biggest shocker in U.S. economic data, after hurricanes ripped through Texas, Florida and other parts of the South in late August and early September. Other data has mostly come in strong, including GDP, which has now grown at 3 percent for two quarters in a row.
“Our forecast is for 325,000. It’s going to be a big number,” said Seth Carpenter, chief U.S. economist at UBS. “You’re going to get a kind of soft average for those two months.” [ Source: CNBC (Read More…) ]
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