The US four-week moving average of initial claims for unemployment insurance edged up to 245,250, last week, up 500 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 500.

The four-week moving average decreases the volatility of the weekly numbers. Total initial claims for unemployment insurance for the week ended Feb. 11 rose to 239,000, up 5,000 from the previous week’s unrevised level.

This marks 102 consecutive weeks of initial claims below 300,000, the longest streak since 1970.

No special factors affected this week’s initial claims.

Bloomberg reports the low number of applications mirrors a tight labor market in which demand for skilled and experienced workers is at a premium. Initial claims rose less than the median forecast in its survey of economists, which called for initial claims to rise to 245,000.