U.S. Sees First Net Private Employment Loss in Seven Years
- Businesses slashed 140,000 jobs in third quarter of 2017
- Data raises prospect of slowdown in buoyant labor market
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Unemployment is at a 17-year low -- for now.
The economy suffered a net loss of 140,000 private sector jobs in the third quarter -- the first such loss since early 2010, according to Labor Department data issued today, with Florida suffering the largest contraction.