FOR IMMEDIATE RELEASE
"The lousy returns from the September jobs report will make little impression on observers, who essentially gave the labor market a free pass due to the impact of Hurricanes Harvey and Irma," said Long. "Both the 33,000 job decline and the rise in wage growth to a level which matches the highest point of the recovery will be downplayed, as many of the lost jobs were likely in low-wage areas. Restaurants accounted for over 100,000 job losses. This outlook likely extends to the Fed as well, as officials seem set on a December rate hike."
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