Hurricane causes a surge in US initial jobless claims, may continue to impact October nonfarm payrolls

Wallstreetcn
2024.10.11 00:36

Last week, the number of initial jobless claims in the United States surged due to the impact of Hurricane Helene and layoffs in Michigan. Analysis indicates that Hurricane Helene did not occur during the reference week for the October nonfarm payroll report (including the 12th of that month), but its partial impact may extend into the reference week. Hurricane Milton, on the other hand, occurred during the reference week. The October nonfarm payroll report may be affected by these two hurricanes