The US four-week moving average of initial claims for unemployment insurance was 241,000 last week, down 1,000 from the previous week’s revised average, according to seasonally adjusted numbers released today by the US Department of Labor. The previous week’s average was revised upward by 250.

The four-week moving average decreases the volatility of the weekly numbers. Total initial claims for unemployment insurance for the week ended Aug. 5 rose to 244,000, up 3,000 from the previous week’s level, which was revised upward by 1,000.

Reuters reports number of Americans filing for unemployment benefits unexpectedly rose last week, but the underlying trend remained consistent with a tightening labor market. Claims exceeded Reuters’ poll of economists, which had forecast claims would be unchanged at 240,000.