October 31, 2024 12:50 GMT
US DATA: Initial Claims Surprise Lower As Hurricane Hit States Mostly Normalize
US DATA
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- Initial jobless claims surprised lower with 216k (sa, cons 230k) in the week to Oct 26 after a marginally upward revised 228k (initial 227k).
- The six states most impacted by Hurricanes Helene and Milton saw a more notable decline in claims, to 24.5k from 32.3 the week prior and a post-Helene high of 36.1k. It leaves them much closer to typical levels seen at this time of year.
- Within those, North Carolina (-3.0k) and Florida (-2.7k) were a large driving force behind national claims falling -3.3k in the NSA data.
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