US jobless claims hit 258,000, the most in a year. Analysts point to Hurricane Helene, Boeing strike
apnews.com
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 strike — than a broader softening in the labor market.

The number of Americans filing for for unemployment benefits last week jumped to their highest level in a year, a possible sign of softness in the labor market, though some analysts suggested it was due to recent hurricanes.

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.

Applications for jobless benefits are widely considered representative of U.S. layoffs in a given week, however they can be volatile and prone to revision.

The four-week average of claims, which evens out some of that weekly volatility, rose by 6,750 to 231,000.