Jobless claims down for week
WASHINGTON (AP) — The number of Americans seeking unemployment benefits dropped by 23,000 last week to 259,000 as the economic impact of Hurricane Harvey began to fade, the Labor Department says.
The less-volatile four-week average rose by 6,000 to 268,750.
In early September, jobless claims shot up by the most in five years as Harvey battered Texas. But last week claims in Texas fell 45 percent as more people returned to work. Hurricane Irma continued to have an impact on the job market in Florida, where claims more than doubled from the previous week.
Despite the weather shocks, claims nationwide remain low by historic standards. Claims are a proxy for layoffs, and most employers are confident enough to be holding onto staff. Unemployment is near a 16-year low at 4.4 percent.