The September Employment Report reported the first negative growth in 2010. Instead of these data, however, economists focused on strong wage growth of 2.9% on an annual basis. This was the fastest growth in wages since 2009.
Indeed, the fall in the number of people employed is largely determined by several hurricanes in the past month.
In September, the US economy lost practically 33,000 jobs while at the same time the unemployment rate dropped to its pre-crisis levels of 4.2%.
This was the first time since 2010 when we saw a decline in the number of jobs in the world's leading economy.
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