43 states reported an increase in Unemployment claims

Labor Department Releases Unemployment Report

Just weeks before Election Day, the number of Americans applying for unemployment benefits has surged to its highest level in more than a year, raising concerns about the health of the labor market and the broader economy.

On Thursday, the U.S. Department of Labor reported that for the week ending October 5, there were 258,000 new jobless claims, a significant jump of 33,000 from the previous week’s 225,000 claims. This marks the highest number of weekly claims since early August 2023, sparking questions about what’s driving this increase.

While analysts initially pointed to Hurricane Helene as a key factor behind the spike, a closer look suggests that the storm, while impactful, doesn’t explain the full picture. North Carolina, the state hardest hit by Helene, saw a staggering 290% rise in jobless claims, with 8,534 more people filing than the previous week.

But states unaffected by the hurricane, such as Michigan and California, also experienced sharp increases. Michigan recorded the highest single jump in claims, with an additional 9,490 applications, marking a 140% rise. California followed closely behind, seeing 4,484 more claims.

Read about the Unemployment Report