FXstreet.com (Barcelona) - Nomura economists Ellen Zentner, Aichi Amemiya and Roiana Reid have taken a look at today's Jobless figures and assessed the impact of the recent Hurrican Sandy.
They note that Initial jobless claims jumped by 78k in the week ending 10 November, the largest increase since a jump in claims following Hurricane Katrina in early September 2005.
While Hurricane Sandy is not estimated to have cost as much as Katrina, it impacted a more densely populated region of the country. The believe that the displacement of workers following a natural disaster is typical and initial jobless claims may rise for a time before falling back to pre-disaster levels.
They note that Initial jobless claims jumped by 78k in the week ending 10 November, the largest increase since a jump in claims following Hurricane Katrina in early September 2005.
While Hurricane Sandy is not estimated to have cost as much as Katrina, it impacted a more densely populated region of the country. The believe that the displacement of workers following a natural disaster is typical and initial jobless claims may rise for a time before falling back to pre-disaster levels.
