Jobless Claims Rise More Than Expected Due to Losses Incurred by Hurricane Ian
U.S. jobless claims rose more than expected last week, for the highest level of claims since late August, after Florida was hit by Hurricane Ian.
The labor market has remained strong overall, and many firms are still hoarding workers even as the economy begins to slow, and many positions remain open.
Initial unemployment claims inched up to 228,000 for the third consecutive week ending Oct. 8, according to a report released by the Labor Department on Oct. 13.
The uptick of 9,000 first-time claims was a modest rise from the previous week’s unrevised level of 219,000.
Many economists were expecting jobless claims to rise to 225,000….