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Economics Gazette

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November 14, 2019

Hurricanes consequences continues to affect US jobless claims

US jobless claimsThe number of Americans applying for unemployment benefits last week increased by 12,000 to 272,000 against the ongoing economic reflections after the Hurricane Irma in Florida. The Labor Ministry reported that the less hesitant four-week average has increased by 9,000 claims to 277,750, which is the highest level since February 2016.

Immediately after the Hurricane Irma crossing, claims rose by 81% in Florida compared to the previous week. In Texas, however, their number has fallen by 29% against the backdrop of the continued weakening of the economic impact of Hurricane Harvey.

Despite the impact of the storms, the level of applications is generally low, suggesting that most US workers have a secure job. Unemployment is at 16-year minimum of 4.4%.

The employers have added an average of 176,000 jobs per month since the beginning of 2017, which is a solid level but less than last year’s 187,000 new jobs per month.

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