The US four-week moving average of initial claims for unemployment insurance fell to 234,500 last week, down 5,000 from the previous week’s average, the US Department of Labor reported. The previous week’s average was also revised downward by 500.

The four-week moving average decreases the volatility of the weekly numbers. Total initial claims for unemployment insurance for the week ended Jan. 27 fell to 230,000, down 1,000 from the previous week’s level, which was revised downward by 2,000.

Reuters reported the number of Americans filing for unemployment benefits unexpectedly fell last week, pointing to a tightening labor market and strengthening economy at the start of the year. Economists polled by Reuters had forecast claims rising to 238,000 in the latest week.