U.S. Jobless Claims Soar by Most Since 2012 on Hurricane Harvey

U.S. jobless claims surged last week by the most since November 2012 as tens of thousands of Texans displaced by Hurricane Harvey filed applications to collect benefits, according to Labor Department figures Thursday.

The jump in claims was the biggest since superstorm Sandy slammed into the Northeast and pushed the overall level of filings to the highest level since April 2015. The results are among the first to show that Harvey, which made landfall on Aug. 25 along the Gulf Coast in Texas, will cause swings in broader economic data. Employment may be depressed initially until rebuilding and recovery efforts in flooded areas around Houston take hold.