Reported 2 months ago
Weekly jobless claims rose unexpectedly to 258,000 for the week ending October 5, marking the highest level since August 2023, and exceeding economists' forecasts of 230,000. The increase is attributed to a slowdown in the labor market, with states affected by Hurricane Helene and the Boeing strike seeing significant rises. Despite a strong jobs report from September adding 254,000 payrolls, the Fed may still lower rates as it views the current claims spike as temporary.
Source: YAHOO