Hurricanes Expected To Knock 100000 Jobs Off The Next Jobs Report
Hurricanes Expected To Knock 100000 Jobs Off The Next Jobs Report
US Jobless Claims Fell Last Week
06 October, 2017, 15:26
Barclays chief economist Michael Gapen appeared on CNBC's "Squawk Box" on Wednesday, two days before the September jobs report is released to discuss Harvey and Irma's impact on labor. In Texas, Harvey's unprecedented flooding left neighborhoods under water and temporarily knocked out a big chunk of US oil refining. Two weeks later, Irma cut power to at least 6.4 million customers and paralyzed tanker traffic. Fed Chair Janet Yellen cautioned last month that the hurricanes could "substantially" weigh on September job growth, but expected the effects would "unwind relatively quickly".
In August, U.S. firms added 156,000 workers to their payrolls. Payrolls tend to get a boost later from cleanup and reconstruction efforts following major storms or disasters.
The U.S. central bank said last month it expected "labor market conditions will strengthen somewhat further".
The government's survey of households, which produces the unemployment rate, reflects the calendar week containing the 12th of the month; the separate survey of businesses and government agencies, which produces the payroll count and wage numbers, is for the pay period containing the 12th. Exports in the August were $195.3 billion, while imports came to $237.7 billion. They would follow on the heels of August's disappointing employment growth, which economists blamed on a seasonal quirk. The industries most concentrated in these affected areas include water transportation, oil and gas extraction and petroleum and coal production, among others.
19 killed in Russian Federation train-bus collision Sputnik news agency quoted the authorities, as saying that the bus drove into the train's path of the train at a railway crossing. They said the bus was on a railway crossing despite a red light at the time of the accident.
"The Labor Department has estimated claims for the island, though, and they might just have been much too conservative". The expectation is that the economy created around 100,000 jobs and the unemployment rate held steady at 4.4 percent, near a 16-year low. The unemployment rate is expected to remain at 4.4 percent in September, and average hourly wages are expected to rise 0.3 percent, according to Thomson Reuters.
The consensus forecast predicts that USA firms added 80,000 jobs in September, which would reflect a halving of the 6-month average pace of job growth, and is down by almost 100,000 from the average rate of monthly job growth of 176,000 for the year. The jump in claims was the biggest since Superstorm Sandy slammed into the Northeast and the volume of filings was the largest since April 2015.
Hurricane Maria, which devastated Puerto Rico and the U.S. Virgin Islands, won't affect this report.
"October will show a big rebound", said Carl Riccadonna, chief US economist for Bloomberg Intelligence in NY. "If you do get a weak number, you are going to be a pretty strong rebound in October and potentially in November", said Song.
The promises follow a tumultuous month for the carrier in which it was forced to cancel tens of thousands of flights twice. And he asked them not to allow competitor pilots or their unions "to demean or disparage our collective success".
The Bucs played without three defensive starters - LB Kwon Alexander , LB Lavonte David and S Keith Tandy - who were inactive. Neither of the mistakes led to points for Tampa Bay (2-2), which was unable to do much offensively until the fourth quarter.
She was sent away. "It never occurred to me in any way whatsoever that he was planning violence against anyone", she said. Clark County Sheriff Joseph Lombardo said Wednesday that Paddock had an escape plan and did not leave a suicide note.
Witnesses told media that the man, in his 50s, had been working as a night guard at the nursery for eight years. BBC/Security Officer Santos, Children and teachers in nursery where he worked, poured alcohol on fire .
Former heavyweight world champion Wladimir Klitschko was among the celebrities playing at the Alfred Dunhill Championship. Four days after winning the British Masters, Dunne shot a 5-under-par 67 in the three-course event on the Old Course.
Sasikala's lawyer said that the jail authorities received an e-mail from the Chennai Police Commissioner agreeing to her parole. M Natarajan, husband of V K Sasikala , had undergone a dual organ transplant at Gleneagles Global Health City in Chennai .
After Sunday's Las Vegas attack, the deadliest mass shooting in USA history, people are looking everywhere for some explanation. Police also confirmed reports that Paddock had rented a room in the city a week before he carried out the mass shooting .
Incidentally, today is exactly a month after Gauri was shot dead by unidentified assailants outside her residence in Bengaluru . Late Gauri Lankesh has been awarded the Annual Anna Politkovskaya award for her contribution to society in bringing equality.
Republicans have previously objected to payday loan regulation and the new rules may still be overturned by Congress. The group says it will fund an advertising campaign to mobilize consumers to oppose any Congressional roll-back.
ET and can be watched on TV on the Fox Sports 1 network, or online through live stream (details below). NY will counter with Sonny Gray , acquired at the July 31 trade deadline to help get NY into October.
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NOTES: This marked the first time two ranked teams played at Carter-Finley Stadium since 2000, when Florida State defeated N.C. Had the Pack been more efficient in the red zone, it would have had a bigger lead heading into the fourth quarter.