As the effects of recent hurricanes begin to diminish, the number of Americans filing new unemployment claims has decreased. According to data released by the Department of Labor, for the week ending October 26, initial claims for state unemployment benefits fell by 12,000 to a seasonally adjusted 216,000. Economists surveyed by Reuters had anticipated that 230,000 people would file for unemployment benefits in the latest week.
Earlier this month, claims surged due to disruptions in economic activities in the Southeast caused by Hurricane Helene, and remained elevated following Hurricane Milton's impact in Florida. Additionally, a strike at a Boeing factory contributed to the increased number of unemployment benefit applications.
