US Jobless Claims Soar to Year High, Hit by Helene and Auto Cuts
- Initial filings rose by 33,000 to 258,000 in the latest week
- Hurricane Helene affected areas in North Carolina, Florida
Piles of debris from Hurricane Helene in Treasure Island, Florida, on Oct. 7.
Photographer: Tristan Wheelock/BloombergThis article is for subscribers only.
Applications for US unemployment benefits rose last week to a more than one-year high, reflecting notable increases in Michigan and states hit by Hurricane Helene.
Initial claims increased by 33,000 to 258,000 in the week ended Oct. 5, surpassing all estimates in a Bloomberg survey of economists. On an unadjusted basis, more than half of the advance was tied to states affected by Helene, including North Carolina and Florida.