WASHINGTON, Oct 24 Reuters The number of Americans filing new applications for unemployment aid unexpectedly fell last week, but more people were collecting benefits in midOctober, which raises the risk of a rise in the jobless rate this month.
Initial claims for state unemployment benefits dropped 15,000 to a seasonally adjusted 227,000 for the week ended Oct. 19, the Labor Department said on Thursday. An ebb in claims from Hurricane Helene more than offset a rush of filings from Hurricane Milton.
Economists polled by Reuters had forecast 242,000 claims for the latest week. Helene and Milton are making it harder to get a clear pulse on the labor market.
The Federal Reserve39;s Beige Book report on Wednesday described employment as having increased slightly in early October, with more than half of the districts reporting slight or modest growth and the remaining districts reporting little or no change.
It also noted that many districts reported low worker turnover, and layoffs reportedly remained limited adding that demand for workers eased somewhat, with hiring focused primarily on replacement rather than growth.
A more than onemonth long strike by about 33,000 machinists at Boeing, which has impacted employment down the troubled planemaker39;s supply chain as well as its nonstriking workforce, also obscured the labor market picture.
The company39;s unionized West Coast workers voted on Wednesday to reject a proposed new contract that included a 35 pay hike over…