US weekly jobless claims total 233,000, vs 235,000 claims expected

The number of American citizens who filed for unemployment benefits increased less than what was expected last week, which suggests that the labor market continued to tighten after Hurricane Harvey. The goods trade deficit also widened in September as an increase in exports was overshadowed by a jump in imports. The strength of the labor market, however, supports the view that the Federal Reserve will raise interest rates come December. The Labor Department recently made initial claims that state unemployment benefits would increase by 10,000 to a total of 233,000 claims. The number of claims fell, however, to 223,000, which is the lowest level since March of 1973. The fact that despite the multiple hurricanes the number of claims made for unemployment benefits has lowered demonstrates the good standing of the current unemployment rate and economy as a whole. The impact of both Harvey and Irma has largely dropped out as the cause behind many of these claims in the continental United States, however, as the Virgin Islands and Puerto Rico continue to be damaged by Irma and Maria, the infrastructure will continue to collapse and keep the islands isolated from the remainder of the country.