Job­less Claims Rise More Than Econ­o­mists Ex­pected

The Bond Buyer - - Market News -

Ini­tial claims for U.S. state un­em­ploy­ment ben­e­fits surged by 62,000 to 298,000 in the Sept. 2 week, well above the 248,000 level ex­pected and the high­est level since the April 18, 2015 week, data re­leased by the La­bor Depart­ment Thurs­day showed.

The level of claims clearly in­di­cates the be­gin­ning of a spike in Texas claims fil­ings re­sult­ing from Hur­ri­cane Har­vey, with fur­ther in­creases likely to come next week and there­after.

Unad­justed claims rose by 51,637 in Texas in the Sept. 2 week, while claims in Louisiana, which was also hit, rose by 258.

The level of con­tin­u­ing claims fell by 5,000 to 1.940 mil­lion in the Au­gust 26 week, while the four-week mov­ing av­er­age for con­tin­u­ing claims fell by 4,000 to 1.948 mil­lion.

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