Unemployment Claims Increase By 33,000 To 258,000: The Highest Level In Over A Year

Unemployment Claims Surge To Highest Level In A Year As Election Day Looms

Just weeks before Election Day, the number of Americans applying for unemployment benefits has increased to the highest level in more than a year. In a news release on Thursday, the U.S. Department of Labor announced that, for the week ending October 5, there were 258,000 jobless claims, up 33,000 from the previous week’s 225,000 claims. This is the highest number of jobless claims since the week of August 5, 2023. The Associated Press spoke to …

Unemployment Claims Increase By 33,000 To 258,000: The Highest Level In Over A Year

The number of Americans filing for unemployment benefits just jumped to its highest level in over a year, a new report revealed on Thursday.

Unemployment claims reach highest point in a year

The number of Americans filing for unemployment benefits last week jumped to its highest level in a year, reaching 258,000, which is attributed to the impact of Hurricane Helene and the Boeing machinist strike. Analysts believe the Federal Reserve will view these impacts as temporary and maintain plans for a November rate cut, considering the recent surge in jobless claims as an anomaly rather than a broader softening in the labor market. The bi…