The US four-week moving average of initial claims for unemployment insurance was 281,250 last week, down 3,500 from the previous week’s unrevised average, according to seasonally adjusted numbers released today by the US Department of Labor.

The four-week moving average decreases the volatility of the weekly numbers. Total initial claims for unemployment insurance for the week ended Feb. 6 were 269,000, down 16,000 from the previous week’s unrevised level.

No special factors affected this week’s initial claims.

Bloomberg reported initial claims declined to a seven-week low as hiring managers demonstrated confidence in the outlook after temporary adjustments around the holidays. Claims fell below the median forecast in its survey of 48 economists, which called for 280,000 in initial claims.

“The labor market is entering a bit of a sweet spot,” Bloomberg quoted Millan Mulraine, deputy head of US research and strategy at TD Securities LLC in New York. “They’re not going to have a hiring spree, because there’s still uncertainty. Neither are you going to have a firing binge anytime soon because there is still demand out there and businesses need to meet that demand.”