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The four-week moving average of initial claims for unemployment insurance declined by 4,500 to a level of 374,000 in the week ended Sept. 22, according to seasonally adjusted numbers released today by the U.S. Department of Labor.The four-week average decreases the volatility of the weekly numbers. Total initial claims for unemployment insurance for the week decreased by 26,000 to 359,000, the lowest since July.
Bloomberg reported the turnaround in claims, which have been on the rise since July, may indicate companies in the United States could be growing more confident that sales will pick up. For the story, click here.