Don’t miss the latest developments in business and finance.

Hurricane Irma cost Florida 127K jobs, but most will return

Image
AP Washington
Last Updated : Oct 20 2017 | 11:28 PM IST
Employers cut jobs in six US states last month, particularly in hurricane-hit Florida, while hiring increased in five and was mostly unchanged in 39 states.
The Labor Department said today that Florida lost 127,000 jobs last month, mostly in hotels, restaurants and in construction, after Hurricane Irma flooded much of the state.
Texas lost 7,300 jobs, mostly because of Harvey. Most of those job losses will prove temporary, and hiring should bounce back in the coming months.
The state data provide a more complete picture of how Hurricanes Harvey and Irma affected the US job market.
Nationwide, employers shed 33,000 jobs in September, the government said earlier this month, the first job loss in seven years. Yet the unemployment rate fell to 4.2 per cent, a fresh 16-year low, from 4.4 per cent.
That's because the way the government calculates the rate is less affected by the storms.

More From This Section

The state-level data suggests that outside of Texas and Florida, companies added about 100,000 jobs. That is below the average monthly gain of 170,000 through August.
Puerto Rico and the US Virgin Islands were unable to collect job data last month because of the devastation from Hurricanes Irma and Maria.
California recorded the largest job gain last month, adding 52,200, followed by Washington state with 13,800 and Indiana with 11,400 new jobs.
On a percentage basis, total jobs in Nebraska grew 0.5 per cent, the most in any state, followed by 0.4 per cent gains in Arizona, Indiana, and Washington state.
Unemployment rates fell in 11 states, led by Alabama, where the rate declined from 4.2 per cent to 3.8 per cent.
The rate rose significantly in four states, with Michigan reporting the biggest increase, to 4.3 per cent from 3.9 per cent.
North Dakota reported the nation's lowest unemployment rate, at 2.4 per cent, followed by Colorado and Hawaii at 2.5 per cent each.

Also Read

First Published: Oct 20 2017 | 11:28 PM IST

Next Story