TL;DR
The private sector added 235,000 jobs in October, with small businesses adding 79,000 jobs, midsize companies adding 65,000, and large companies adding 90,000. The job market rebounded strongly from the hit it took from Hurricanes Harvey and Irma.
The effects of Hurricane Irma and Harvey on the job market have now reversed. According to a recent USA TODAY article, the private sector added 235,000 jobs last month, which was more than the 196,000 expected.
“The job market rebounded strongly from the hit it took from Hurricanes Harvey and Irma,” said Mark Zandi, chief economist at Moody’s Analytics. “Looking through the hurricane-created volatility, job growth is robust."
The growth in October was due to small businesses adding 79,000 jobs, midsize companies adding 65,000 and large companies adding 90,000. Professional and business services, construction for rebuilding efforts in Texas and Florida and leisure and hospitality were the top three industries that saw gains.
In this story
This story was originally published in 1851 Franchise on November 2, 2017. Burnaze summarizes and links to the original reporting.
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