Daily News

View All News

Jobless claims average up; Hurricane Harvey pushes initial claims to highest level in more than two years

September 07, 2017

The US four-week moving average of initial claims for unemployment insurance was 250,250 last week, up 13,500 from the previous week’s unrevised average, according to seasonally adjusted numbers released today by the US Department of Labor.

The four-week moving average decreases the volatility of the weekly numbers. Total initial claims for unemployment insurance for the week ended Sept. 2 rose to 298,000, up 62,000 from the previous week’s unrevised level.

Hurricane Harvey affected initial claims.

Reuters reported the number of Americans filing for unemployment benefits surged to the highest level since April 2015, with 51,637 applications coming from hurricane-ravaged Texas. The weekly increase was the largest since November 2012; however, the underlying trend remained consistent with a firming jobs market.