Job Creation Rebounds from Hurricanes

U.S. job creation rebounded in October from the blow it suffered in September due to the hurricanes, reports the Bureau of Labor Statistics (BLS) in its employment report released on Friday.

September hiring was severely affected by the Texas and Florida hurricanes, particularly in the hospitality industries in Florida. The October rebound was weaker than expected with a gain of 261,000 positions. The September result was revised up from negative 33,000 in the first estimate to positive 18,000 in the latest release. August was revised up by 39,000. Using a three-month moving average (3MMA), the October result was 162,000, up from 121,000 in September.