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Jobless claims average up by 9,000, initial claims hit highest level in more than three months

January 11, 2018

The US four-week moving average of initial claims for unemployment insurance rose to 250,750 last week, up 9,000 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 Jan. 6 rose to 261,000, up 11,000 from the previous week’s unrevised level. It was the highest level since the week ended Sept. 23.

A cold snap may have kept some workers at home, Reuters reported. The increase likely does not suggest a material shift in labor market conditions as claims data tend to be volatile during year-end holidays. Economists polled by Reuters had forecast claims falling to 245,000 in the latest week.