US loses 33,000 jobs in September; First monthly decline in 7 years

The United States lost 33,000 jobs in September as the economy took a hit from Hurricanes Harvey and Irma. It was the first monthly decline in jobs in seven years.

The jobless rate dropped to 4.2%, the lowest since 2001.

Economists had been expecting an increase of 90,000 jobs, even after accounting for the hurricanes. Economists expect the decline to be short-lived as Houston and Florida rebuild.