The US four-week moving average of initial claims for unemployment insurance rose to 240,000 last week, up 1,000 from the previous week’s average, according to seasonally adjusted numbers released today by the US Department of Labor. The previous week’s average was revised upward by 1,750.

The four-week moving average decreases the volatility of the weekly numbers. Total initial claims for unemployment insurance for the week ended March 18 rose to 258,000, up 15,000 from the previous week’s level, which was revised upward by 2,000.

This week’s release reflects the annual revision to the weekly unemployment claims seasonal adjustment factors. The seasonal adjustment factors used for the unemployment insurance weekly claims data from 2012 forward, along with the resulting seasonally adjusted values for initial claims and continuing claims, have been revised.

After the annual revisions, the streak of consecutive weeks of initial claims below 300,000 now stands at 80; before the annual revisions, the streak had been at 106 weeks.

Bloomberg reports initial claims rose to a seven-week high, representing a departure from other data showing a solid labor market. Initial claims rose more than the median forecast in its survey of economists, which called for initial claims to edge down to 240,000. But even with the pickup in claims last week, hiring managers have been slow to dismiss workers as the labor market tightens and job vacancies become harder to fill with skilled and experienced employees. Companies also have been adding to payrolls at a healthy pace and gradually increasing wages.