Despite a poor show in September with a decline in job additions for the first time in seven years, the sentiment remains positive over U.S. job data. Job additions were low primarily because of workplace disturbances induced by hurricanes Harvey and Irma, which hit several states including Texas and Florida. This is a temporary setback and hiring is expected to recover this month. Job openings are reportedly at record high and the labor market remains tight on the back of a decline in the unemployment rate. Jobless rate settled at its lowest level in the last 16 years.
While the restaurant and leisure industry suffered the maximum number of job loss, following hurricane-induced disruptions, some sectors like health care, financial activities, transportation and warehousing services, and professional and business services witnessed strong job gains….