10/11/2024

U.S. Jobless Claims Hit 258,000

Analysts point to Hurricane Helene, Boeing strike

The number of Americans filing for unemployment benefits last week jumped to its highest level in a year, which analysts are saying is more likely a result of Hurricane Helene — and the Boeing machinist strike — than a broader softening in the labor market.

The Labor Department reported Thursday that applications for jobless claims jumped by by 33,000 to 258,000 for the week of Oct. 3. That’s the most since Aug. 5, 2023 and well above the 229,000 analysts were expecting.

Analysts highlighted big jumps in jobless benefit applications last week across states that were most affected by Hurricane Helene, including Florida, North Carolina, South Carolina and Tennessee.

Please select this link to read the complete article from The Associated Press.