How Hurricanes Impact Unemployment, in One Chart

The jump in jobless claims this week looks an awful lot like the one post-Katrina.

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Reuters

The impact of Superstorm Sandy, which hit the northeastern United States last month,  continues to wash up in economic data.

Today, weekly readings on new claims for unemployment benefits surged to their highest level since the spring of 2011, hitting 439,000. If history is any guide, this number should decline.

Take a look at the similar spike back in 2005, which reflected the impact of Hurricane Katrina on the US Gulf Coast.

This post originally appeared on Quartz, an Atlantic partner site.

 

About the Author

  • Matt Phillips is a reporter at Quartz, where he writes about finance, markets, and economics.