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Jobless claims impacted by hurricanes, fall more than expected

October 05, 2017

Initial claims for unemployment insurance fell by 12,000 to a total of 260,000 last week with Hurricanes Harvey, Irma and Maria affecting the numbers, according to seasonally adjusted data released today by the US Department of Labor.

Reuters reported the impact of the hurricanes made it difficult to get a clear picture of the labor market; however, the numbers fell more than expected.

The four-week moving average of jobless claims fell 9,500 to an average of 277,750. The four-week moving average decreases the volatility of the weekly numbers.