EMPLOYMENT QUICK FACTS September 2017 JOBS ADDED: -33,000 EMPLOYMENT GROWTH: 1.2% UNEMPLOYMENT: 4.2% Sources: Bureau of Labor Statistics NATURAL RESOURCES SECTOR TOPS GROWTH September 2016 - September 2017 INDUSTRY 12-Month Total Change 12-Month % Change Professional & Business Services 528,000 2.6% Education & Health Services 472,000 2.1% Leisure & Hospitality 189,000 1.2% Construction 184,000 2.7% Financial Activities 149,000 1.8% Manufacturing 117,000 0.9% Trade, Trans., Utilities 83,000 1.5% Natural Resources & Mining 80,000 9.1% Other Services 53,000 0.9% Government 21,000 0.1% Information -79,000 -2.8% Source: Bureau of Labor Statistics UNEMPLOYMENT CONTINUES TO IMPROVE September 2017 = 4.2% Target Effective Federal Funds Rate (Oct. 2017) 1.00%- 1.25% Prime Rate (Oct. 2017) 4.25% 10 Year U.S. Treasury (As of Oct. 6, 2017) 2.37% 30 Year Mortgage Rate Fixed (As of Oct. 6, 2017) 3.90% Personal Consumption Expenditures Change (August 2016 - August 2017) +1.4% Consumer Price Index Change (August 2016 - August 2017) +1.9% Producer Price Index (August 2016 - August 2017) +2.4% Sources: U.S. Federal Reserve, Wall Street Journal, Bureau of Economic Analysis, Bureau of Labor Statistics LABOR MARKET SUFFERS FIRST JOB LOSS IN 7 YEARS September 2017 INTEREST RATES AND INFLATION UNITED STATES 0CT 2017 Source: Bureau of Labor Statistics Note: Shaded area represents recession Source: Bureau of Labor Statistics In September, the U.S. labor market suffered its first monthly job loss in seven years. However, even as Hurricanes Harvey and Irma put a damper on hiring, the underlying employment data remained strong. While year-over-year employment growth fell slightly, it still grew at 1.2 percent. Over the last year, the professional and business services sector added the most jobs with 528,000, and the natural resources and mining sector had the largest percent growth at 9.1 percent. The only sector to see a decline in employment was Information, which lost 79,000 jobs. The unemployment rate also dropped from 4.4 percent in August to 4.2 percent in September. In addition to the strength in the labor market, second quarter economic growth rose to 3.1 percent – the highest rate in two years.