Washington: The number of Americans filing for 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 labour market.
The Labor Department reported Thursday that applications for jobless claims jumped by by 33,000 to 258,000 for the week of Oc 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 Helene, including Florida, North Carolina, South Carolina and Tennessee. “Claims will likely continue to be elevated in states affected by Helene and Hurricane Milton as well as Boeing strike until it is resolved,” said Nancy, lead US economist of Oxford Economics.