US Jobless Claims Jump 33,000 to 14-Month High Due to Hurricane Helene

Oct 10, 2024, 01:01 PM

Initial jobless claims in the United States surged by 33,000 to 258,000 last week, reaching a 14-month high, likely due to the impact of Hurricane Helene. The previous week's claims were 225,000. Significant increases were reported in states affected by the hurricane, including North Carolina, which saw claims rise by 8,534, and Florida, with an increase of 3,842. Other states such as Tennessee (+1,836), South Carolina (+1,136), Virginia (+718), and Georgia (+693) also experienced notable upticks. Michigan reported a substantial increase of 9,490 claims, which may be temporary as factory furloughs often lead to big swings.