U.S. Initial Jobless Claims Unexpectedly Fall 19,000 Last Week, Largest Drop in Three Months
U.S. initial jobless claims fell unexpectedly last week, Oct. 17, but are likely to remain high in the short term amid Hurricanes Helene and Milton, blurring the labor market outlook. The U.S. Department of Labor said Thursday that as of the week of October 12, the number of U.S. initial jobless claims fell by 19,000 to 241,000 people. Earlier, initial jobless claims jumped to a one-year high due to Hurricane Helene. Despite last week's drop in initial claims, Hurricane Milton's landfall in Florida could keep initial claims high in the coming weeks. In addition, the Boeing strike has clouded the outlook for the labor market.
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