The September jobs report shows payrolls rising 134,000 in September, worse than the 185,000 consensus (ING was 160,000), but this doesn't tell the true story. Hurricane Florence has clearly had an impact on the data (the BLS says 299,000 people weren’t at work because of bad weather and 1.5 million could only work part-time)) given it made landfall in the Carolinas and Virginia in the week of data collection. However, the impact is certainly far less than what we saw with hurricanes Harvey and Irma last year and the underlying story is one of real strength. After all, there were significant upward revisions to the ... (full story)